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Sep 05, 2021
3 min read

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Any entrepreneur running a business in India knows that our regulatory and statutory universe is highly complex, with 1,536 Acts and 6,618 possible filings annually. It is also extremely fluid, changing 3,000+ times a year - staying on top of the frequent legal updates is a challenge. Identifying which regulations are applicable to a business and then keeping up with the appropriate legal updates makes for an extremely heavy compliance burden.

What Exactly Are Legal Updates?

Legal updates are changes to existing compliances, published as Government Notifications and Circulars and are of two types: a) actionable that lead to a change in the compliance and b) informational that provide additional information/clarification and may not result in any change in process. These legal updates include the following:

  • Change of Date
  • Change of Frequency
  • Change of Penalty / Interest Computation
  • Addition of new compliance item
  • Reduction of an existing compliance item
  • Revision to forms
  • Changes to Rates / Duty Structures

Tracking Legal Updates Calls For A Digital Solution That Works In Real Time

The information on legal updates is scattered across multiple government websites and tracking these legal updates manually is a challenge that companies fail at often, leading to sins of omission (missed compliances) and sins of commission (wrong compliances) and heavy penalties. Moving to a digital solution that works in real time to track legal updates eases the burden of compliance and allows businesses to work more efficiently.

Using Technology For A Real-Time, Comprehensive Database On Legal Updates

At TeamLease Regtech, we use state of the art technology tools such as AI, ML, OCR to crawl over 2000 regulatory websites daily,giving the ability to rapidly analyse and synthesise 2500 legal updates per year, making a credible real-time database.

The coverage is comprehensive - encapsulating all legal updates across seven categories - Labour, Environment/Health/Safety, Finance and Taxation, Secretarial, Commercial, Industry specific and General (including Local).

Legal updates are covered under the Central Government, and all 28 states and 8 union territories,as well as more than 7000 towns/cities and 2.5 lakh Gram Panchayats.

RuleZbook App Gives Real-Time Information At The Fingertips

The compliance solution is available for free on native Android and iOS platforms, with richer functionality built-in through the RuleZbook App. The app has an easy self onboarding module, which allows users to set themselves up within 5 minutes. Mobile numbers can be used for registration and the app can be personalised in just three steps for choice of state, industry, and compliance categories. Based on these selections, the relevant Acts and compliances are automatically assigned to the user profile.

Users can view the relevant Acts, compliances and all legal updates in real time, that is within 24 hours of release. News on legal updates is also curated from the media and provided for users for more rounded information. While the original government order/notification/circular is also provided for deeper study, if needed, the complex legal language and terminology of these legal updates are translated into easy to understand language.

"TeamLease Regtech provides a real-time, comprehensive, national compliance database that incorporates all legal updates in the country, tracking changes 15 times a day."

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Follow the steps

  • Download Rulezbook from Play Store / App Store
  • Set your Preferences
  • Start getting the relevant Legal Updates

  • Download & Install play store app store