Our collection of resources based on what we have learned on the ground
Resources
Q&A
How are trading companies' accounts audited in India?
- September 2012
- Free Access
Entities in the trading industry are liable to pay value-added tax (VAT) and central sales tax (CST). VAT audits are performed to verify whether VAT and CST liabilities are being properly determined and paid by the businesses in question. However, t...
Q&A
How are service companies' accounts audited in India?
- September 2012
- Members Access
More than 100 services are subject to a service tax audit, outlined in the Finance Act and controlled by the Central Excise department. The object of this audit is to ensure that undertakings in all relevant industries (listed in Chapter V of the Fin...
Q&A
How is Corporate Income Tax (CIT) paid in India?
- September 2012
- Members Access
Income tax must be paid by all types of foreign-invested entities, except for liaison offices, which are not permitted to earn income. A tax return must be sent to the income tax authorities by September 30. In case of liaison offices, the foreign co...
Q&A
What taxes are applicable to companies in India, other than corporate income tax...
- September 2012
- Members Access
The applicable taxes would depend on the type of companies or the industry they are in: Companies that sell a product must file annual sales tax or submit their value-added tax returns. Companies located in states where professional tax registrat...
Q&A
What are the requirements on annual activity reporting in India?
- September 2012
- Members Access
Liaison and branch offices are obliged to demonstrate that they are operating within their legally permissible areas of activity once a year. This reporting takes the form of an Annual Activity Certificate, which must be produced in a specified forma...
Q&A
What does the Foreign Exchange Management Act regulate in India?
- September 2012
- Members Access
The Foreign Exchange Management Act (FEMA) regulates foreign exchange into and out of India. In accordance with this act, foreign exchange must be reported at two stages: Upon receipt of share application money from the non-resident parent company...
Q&A
How should a foreign-owned subsidiary bring money to India for expenses in its e...
- September 2012
- Members Access
Money should be brought to India through normal banking channels either as share capital or against service invoices. Many new entrants bring petty cash from outside India and use that cash for expenses in the subsidiary company. However, this violat...
Q&A
How should Corporate Income Tax be calculated in India?
- September 2012
- Members Access
Corporate Income Tax is charged at 30 percent of a company’s profits. If the tax payable on the total income of the company is less than 18.5 percent of book profits , then the total income of the company shall be deemed to be equal to the book...
magazine
PrePost Establishment Compliance for Foreign-invested Entities
- August 2012
- Members Access
Compliance requirements include tax compliance, annual activity reporting (for BO and LO), annual compliance and ongoing compliance (such as notifications about major changes in an entity or Foreign Exchange Management Act compliance). Compliance req...
podcast
Business in Emerging Asia presented by Chris Devonshire-Ellis
- July 2012
- Free Access
Dezan Shira & Associates founder, Chris Devonshire-Ellis discusses issues and trends in doing business in emerging Asia, focusing on China and India.
podcast
Demographic Comparison of China and India presented by Chris Devonshire-Ellis
- July 2012
- Free Access
Dezan Shira & Associates' founder Chris Devonshire-Ellis compares the economies, population and recent histories of China and India
magazine
Payroll Processing in India
- June 2012
- Members Access
There is a great deal of information available about the Indian social security system that is written from the perspective of policy makers and academics studying international development.
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