The company is the largest digital-first beauty and personal care (“BPC”) company in India in terms of revenue. It worked with the primary objective of developing products that address beauty and personal care problems faced by consumers.
The company has a portfolio of brands. The flagship brand, Mamaearth (Launched in 2016), is built to service a core customer need for safe-to-use, natural products, and focuses on developing toxin-free beauty products made with natural ingredients.
Brand Portfolio:
As of June 30, 2023, portfolio of brands with differentiated value propositions includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.
The BPC products market in India is undergoing a fundamental re-industrialization owing to the convergence of technology, demographic dividend, and growing consumer aspirations. The market for BPC products in India is expected to grow from $20 billion in 2022 to app. $33 billion in 2027 at a CAGR of app. 11%, which is among the highest within retail categories and other retail categories.
India’s per capita spend on BPC products is currently one of the lowest in comparison to some of the other developing countries and is at the cusp of growth as GDP per capita has surpassed $2,000, which is a critical inflection point as observed in other developing economies. There are several consumer behavior changes that are shaping the Indian BPC market. With increasing incomes and awareness, consumers are increasingly looking for masstige brands.
BPC is one of those categories that lends itself well to digital penetration. The online BPC market, which is currently sized as US$3 billion, is expected to grow at 29% annually to be around US$11 billion by 2027, translating to an online penetration of 34%.
Risk Analysis.
1. Aadhaar and PAN Card of the taxpayer and the company
2. Bank Statements of the taxpayer/company/firm
3.Form 26AS: It is a summary of all the taxes that have been deducted from your income, such as TDS (Tax Deducted at Source).
4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
5. Investment and financial documents: If you have invested in shares, mutual funds, or fixed deposits, dividend statements, capital gains reports (if you have sold any assets), and interest certificates need to be attached.
6. Proof of other income: Other than your salary, if you have earned from different sources, such as from freelance work, rental income, or interest, you need to attach the documents, such as bonus receipts, interest certificates, rental agreements, and any freelance payment statements, to prove the same.
7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
1. Aadhaar and PAN Card of the taxpayer and the company
2. Bank Statements of the taxpayer/company/firm
3.Form 26AS: It is a summary of all the taxes that have been deducted from your income, such as TDS (Tax Deducted at Source).
4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
5. Investment and financial documents: If you have invested in shares, mutual funds, or fixed deposits, dividend statements, capital gains reports (if you have sold any assets), and interest certificates need to be attached.
6. Proof of other income: Other than your salary, if you have earned from different sources, such as from freelance work, rental income, or interest, you need to attach the documents, such as bonus receipts, interest certificates, rental agreements, and any freelance payment statements, to prove the same.
7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
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