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Founders Agreement


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A founders' agreement is a key legal document that defines the roles, responsibilities, rights, and obligations of each founder in a startup or new business venture. Created during the company's early stages, it helps clarify important aspects such as decision-making authority, equity distribution, and financial contributions. By setting these terms upfront, the agreement helps prevent disputes and misunderstandings as the business grows. It also offers legal protection in case a founder exits or there are significant changes in the company structure, ensuring smoother operations and long-term cooperation.


·       Equity Ownership

·       Roles and Responsibilities

·       Decision-Making and Voting Rights

·       Vesting Schedule

·       Compensation and Salaries

·       Intellectual Property (IP) Assignment

·       Confidentiality and Non-Compete Clauses

·       Exit Strategy and Founder Departure;

·       Dispute Resolution

·       Amendments

A Founders Agreement is crucial for setting clear expectations and protecting the interests of all parties involved in the early stages of a business.

  • For Accounts Subject to Audit: The deadline is October 31st of the assessment year.
  • When Reporting with Form No. 3CEB: The due date is November 30th of the assessment year.
  • For Non-Audited Accounts: The deadline is July 31st of the assessment year.

How to Complete the ITR 6 Form

To ensure a smooth and accurate filing process for the ITR-6 Form, follow these recommended steps provided by the Income Tax Department:

  1. Part A
  2. Schedules
  3. Part B
  4. Verification

Adhering to this sequence helps organize your information and simplifies the completion of your income tax return.

No Documents Required

When filing the ITR-6 form, you do not need to attach any documents, such as TDS certificates. However, it is important to reconcile the taxes deducted, collected, or paid on your behalf by comparing them with your Tax Credit Statement Form 26AS.

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