Our collection of resources based on what we have learned on the ground
Resources
Q&A
What are the guidelines for the annual auditors' appointing for Indian entities?
- January 2014
- Free Access
Auditors are appointed by the Board of Directors. The appointed auditor must be a chartered accountant. She or he may not be an employee or partner of the company, hold security of the company or be indebted to it. The auditor is always appointe...
Q&A
What are the additional guidelines for annual accounts for Indian entities?
- January 2014
- Members Access
Every company with share capital is required to file an annual return with the ROC within 60 days from the date on which the AGM of the company was held. Returns should be accompanied by form 20 B. The return is to be signed digitally by the authoriz...
Q&A
How are corporate accounts audited in India?
- January 2014
- Members Access
The Income Tax Act stipulates that every person carrying out a business or profession in India is required to get their accounts audited by a chartered accountant. Foreign representation entities—liaison offices, branch offices and project offi...
Q&A
What are the basic taxation compliance requirements in India?
- January 2014
- Free Access
Basic taxation compliance requirements applicable to all businesses are as follows: Corporate income tax Employee tax deductions at source Other taxes as applicable, including sales tax/value-added tax, service tax and professional tax
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Corporate Taxes in India
- January 2014
- Members Access
Corporate Taxes in India, including corporate income tax, value-added tax and standard tax on dividends.
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Foreign Direct Investment (FDI) in India
- January 2014
- Members Access
Foreign Direct Investment (FDI) in India: main sources of FDI are Mauritius, Singapore, UK, Japan, USA, Netherlands.
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House Rent Allowance Exemption under Indian Laws
- January 2014
- Members Access
If a company chooses to provide House Rent Allowance(HRA) to its employees, the amount of this allowance exempt from tax is the lowest of three number.
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The Benefits of Outsourcing Payroll India
- January 2014
- Free Access
Six Benefits of Outsourcing Payroll in India
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Individual Income Tax Rate in India
- January 2014
- Members Access
India imposes different sets of progressive tax rates, ranging from 10-30 percent.
Q&A
What is a Permanent Account Number (PAN) in India?
- January 2014
- Free Access
A Permanent Account Number (PAN) is a 10-digit alphanumeric code, printed on an identification card, for the reference of the Income Tax Department. Companies are required to obtain a PAN during the establishment process in order to file an income ta...
Q&A
What are the requirements for employee tax deductions at source in India?
- January 2014
- Members Access
All entities in India (including foreign representative offices and Indian setups like wholly owned subsidiaries) are required to make tax deductions at source on employees' salaries on behalf of the Income Tax Department. The payment and complianc...
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