To establish a company in India, it must be registered with the Registrar of Companies where it will be located. The company must be organized according to the Companies Act of 1956 and necessary registration forms must be filed. Directors must be appointed by completing proper identification forms. Foreign companies can open branch offices in India to represent parent companies, conduct research, engage in export/import, and promote technical/financial collaborations by submitting applications to the Reserve Bank of India. Ongoing compliance requirements for companies in India include filing annual corporate and withholding tax returns, paying excise/service taxes, and meeting RBI reporting obligations.
Objectives & Agenda :
One of the major forms of organisation is a company, having separate legal entity. It has several benefits as compared with other forms of business organisations. The process of incorporating a company has become seamless in line with ‘ease of doing business’ in India. The webinar shall cover the changes in the procedural aspects relating to incorporation of a company to simplify the process. The webinar shall also focus on the single form for company incorporation, practical issues and challenges in formation of a company.
Company incorporation1, Possible legal structures of doing Business in Pakist...FAST NUCES
the presentation is about the company incorporation and it has possible legal structure of doing business that is required for Pakistan is included. Moreover, it has also steps of partnership and sole proprietorship that are required for registration. It has also included the private and public limited companies companies and Co incorporation& Compliance Department, Company Law Division.
Company Registration in India – Registrationwalaregistrationwala
Easily register any type of company online in India within 10 to 15 days. Also, you can register your company from any part in India without going to any Govt office with the help of Registrationwala. For more detail you can watch this presentation.
https://www.registrationwala.com/company-registration
Objectives & Agenda :
One of the major forms of organisation is a company, having separate legal entity. It has several benefits as compared with other forms of business organisations. The process of incorporating a company has become seamless in line with ‘ease of doing business’ in India. The webinar shall cover the changes in the procedural aspects relating to incorporation of a company to simplify the process. The webinar shall also focus on the single form for company incorporation, practical issues and challenges in formation of a company.
Company incorporation1, Possible legal structures of doing Business in Pakist...FAST NUCES
the presentation is about the company incorporation and it has possible legal structure of doing business that is required for Pakistan is included. Moreover, it has also steps of partnership and sole proprietorship that are required for registration. It has also included the private and public limited companies companies and Co incorporation& Compliance Department, Company Law Division.
Company Registration in India – Registrationwalaregistrationwala
Easily register any type of company online in India within 10 to 15 days. Also, you can register your company from any part in India without going to any Govt office with the help of Registrationwala. For more detail you can watch this presentation.
https://www.registrationwala.com/company-registration
NO. FJ2 (49)/2021-LEGIS) THE LEGISLATION WAS RECEIVED ON DECEMBER 1, 2021 AFTER BEEN APPROVED BY THE PARLIAMENT HEREAFTER PROMULGATED ON DECEMBER 04, 2021 CALLED AS THE COMPANIES (AMENDMENT) ACT, 2021.
Incorporation of Company - ROC filling & procedure (Business Law)Yamini Kahaliya
This presentation is on forming a company it includes details about following points :-
Introduction
Importance
Steps involved in formation of company (as per Companies Act 2013)
Forms required for company formation & filling procedure
Attachment
Fees
Our company profile
Conclusion
o understand the concept of POEM and it's relevance in Indian laws. The webinar shall cover the guidelines to determine POEM for a foreign company by analysing the concept of active business outside India. The webinar shall additionally touch upon the similar concepts prevailing outside India.
Get Section 8 Company registration in Delhi, Gurgaon, Noida and other cities with the help of experts at LegalRaasta. LegalRaasta is your online CA portal.
Company form of entity is best preferred for establishing business in India. Here are Steps for incorporating a company in India under companies Act, 1956. There are other compliance requirements of Foreign Direct Investment and FEMA which needs to be fulfilled while incorporation of a subsidiary in India. We at Rayvat Accounting Specialize in providing incorporating a company in India.
All you need to know about #ProvidentFund and #Employee State #Insurance.
Check out the details about how to create a Foreign #Subsidiary in India.
#foreign #ForeignSubsidiary #WOS #proexadvisors #SteeringAhead #proexfamily #PrivateLimited
es toda aquella acción u omisión realizada por personas, grupos o instituciones, en las que se da un trato a otra persona, grupo o institución en términos diferentes al que se da a sujetos similares
NO. FJ2 (49)/2021-LEGIS) THE LEGISLATION WAS RECEIVED ON DECEMBER 1, 2021 AFTER BEEN APPROVED BY THE PARLIAMENT HEREAFTER PROMULGATED ON DECEMBER 04, 2021 CALLED AS THE COMPANIES (AMENDMENT) ACT, 2021.
Incorporation of Company - ROC filling & procedure (Business Law)Yamini Kahaliya
This presentation is on forming a company it includes details about following points :-
Introduction
Importance
Steps involved in formation of company (as per Companies Act 2013)
Forms required for company formation & filling procedure
Attachment
Fees
Our company profile
Conclusion
o understand the concept of POEM and it's relevance in Indian laws. The webinar shall cover the guidelines to determine POEM for a foreign company by analysing the concept of active business outside India. The webinar shall additionally touch upon the similar concepts prevailing outside India.
Get Section 8 Company registration in Delhi, Gurgaon, Noida and other cities with the help of experts at LegalRaasta. LegalRaasta is your online CA portal.
Company form of entity is best preferred for establishing business in India. Here are Steps for incorporating a company in India under companies Act, 1956. There are other compliance requirements of Foreign Direct Investment and FEMA which needs to be fulfilled while incorporation of a subsidiary in India. We at Rayvat Accounting Specialize in providing incorporating a company in India.
All you need to know about #ProvidentFund and #Employee State #Insurance.
Check out the details about how to create a Foreign #Subsidiary in India.
#foreign #ForeignSubsidiary #WOS #proexadvisors #SteeringAhead #proexfamily #PrivateLimited
es toda aquella acción u omisión realizada por personas, grupos o instituciones, en las que se da un trato a otra persona, grupo o institución en términos diferentes al que se da a sujetos similares
(1day Intensive Class) 배인탁의 비즈니스 협상 노하우 - Standford negotiationclass 6th피플앤인사이트
(1day Intensive Class) 비즈니스 협상 노하우
- 원하는 것을 얻는 힘, 비즈니스 협상의 기술 -
1) 미국 스탠퍼드 경영대학원 협상클래스 체계 준용
2) KAIST 기술경영전문대학원에서 6년간 검증된 강의
3) 즉시 현장적용이 가능한 실전 협상 Tip과 현장사례 실습
우리의 삶은 끝없는 협상의 연속입니다.
작게는 자녀의 용돈 액수를 정할 때,
더 많은 연봉을 받기 위해 연봉협상을 진행할 때,
물건을 구매하거나 부동산을 사고 팔 때…
아주 사소한 의사결정에서부터 인생을 좌우할만한 중요한 협상에 이르기까지 우리는 무수한 협상의 상황을 겪으며 살아갑니다.
이 각각의 협상에서 이기거나 적어도 지지 않는다면 결과적으로 성공적인 인생을 구현할 수 있는 것입니다.
비즈니스차원에서도 이 원리는 똑같이 적용됩니다.
기업간에, 또는 기업 내부에서 끊임없이 발생하는 의사결정의 상황에서 체계적인 협상의 원리를 적용, 성공적인 결과를 도출함으로써 경영성과를 극대화 할 수 있습니다.
따라서 체계적인 협상 교육을 통해 협상력을 강화하는 것 역시 기업경쟁력을 높이는 또 다른 방법입니다.
- 누가 참가하면 가장 좋은가?
구매, 영업, 고객관리 등 모든 대외업무를 담당하는 기업의 매니저/임원
전략적 제휴, M&A, 투자유치 등을 성공 시키고자 하는 기업의 CEO/CFO
조직 커뮤니케이션 스킬을 향상하여 경영성과를 높이고자 하는 경영자/임원 등
- 일시: 2016년 11월 16일 (수) 9:00~18:00
- 장소: 피플앤인사이트 (9호선 언주역 8번 출구. 도보 3분)
- 교육비: 35만원 (부가세 별도/ 중식 및 교재포함/ 협상 certificate 제공)
- 할인혜택: *혜택은 중복 적용 불가합니다.
1) 얼리버드 10월 28일까지 등록 시 5만원 할인혜택
2) 1사 2인 이상 등록 시 5만원/인 할인혜택
3) 피플앤인사이트/한국CFO스쿨 수료 기업 5만원 할인혜택
- 문의: (전화) 02-556-2976, 2978 (이메일) edu@pninsight.com
Heart of Data Modeling Webinar: The Ticking Timebombs in Your Data ModelDATAVERSITY
You learned to data model and you are eager to get started. You have your Normal Forms poster on your cube wall and your data modeling tool templates ready to go. You are ready...but...are you sure you aren't introducing issues that will later cost you a lot of pain for the business? Or for your technical teammates?
In this session, we look at the workarounds, technical debt and clever designs that can cause you grief when you least expect it. We will also include perfectly fine features that can haunt you later. We will discuss how these things happen and give you tools to identify the ones that cause the most pain and lead to a lot of extra work.
Learn how to keep your job, have happier users and get more rest.
사람으로 길을 찾고, 조직으로 넘어라
(제2기)강한기업을 만드는 HR전문가 과정 - 10/27 개강
Q1. 인사전문가는‘멀티플레이어’ 이다?
: 중소기업에서는 누구라도 멀티플레이어가 되어야 합니다. 그러나 인사의 전문성 없는 인사담당자를 과연 진정한 멀티플레이어라고 할 수 있을까요? 인사담당자는 일단 인사의 기본기가 튼튼해야 합니다.
Q2. 회사의 경영전략과 Alignment 되는 인사전략을 어떻게 만들어야 하는가?
: 조사에 따르면 실제 인사부서는 해야 할 일 (전략적 파트너로서의 업무)과 하고 있는 일 (단순 행정 업무)에 상당한 격차가 있는 것으로 나타나고 있습니다.
단순 행정 업무에서 벗어나 우리 조직의 전문성을 지닌 인사 컨설턴트로 거듭나야 합니다.
특히 지금과 같은 저성장기, HR은 기업의 핵심역량을 기반으로 비전, 사업전략을 수립하고 이것이 요구하는 인사전략을 면밀히 검토하여 수행하는 것이 중요한 HR의 임무입니다.
Q3. 1분기도 예측하기 힘든 비즈니스 환경, 귀사의 HR은 비즈니스를 잘 반영하고 있습니까?
: 많은 HR담당자들이 주요 업무중의 하나로 ‘채용’을 꼽고 있습니다. 적정인원을 파악하고 수급하는 것이
과거 예측가능한 시장환경 하에서 HR에게 요구되는 중요한 업무 중 하나였다면, 진화된 HR이 요구하는 것은
우리기업의 비즈니스를 잘 이해하고 어떻게 인사적으로 해석하고 선제적으로 대응할지에 대한 역량입니다.
HR은 점점 더 기존의 역할을 넘어선 새로운 역할을 요구 받고 있습니다. 이러한 도전에서 진짜 HR전문가로 성장하기 위해서 어떻게 해야 하는지에 대해 함께 고민해 볼 수 있는 시간이었습니다.
아래 이야기들은 비단 HR부서 뿐만이 아니라 모든 분들이 한번쯤 고민해 봐야 할 부분인 것 같습니다.
- 무늬만 전문가가 아닌, 진짜 전문가가 되어야 한다.
- 내 일 뿐만이 아니라 환경, 정보, 비즈니스 숫자, 사람에 민감해져야 한다. 그리고 이러한 주변 환경이 내 업무에 미치는 영향을 이해해야 한다.
- 주요 이해관계자), 특히 TOP of Mind를 살펴야 한다
- 한번도 해보지 않은 일을 해야 하는 상황은 계속 온다. 계속 변화에 도전하고, 틀을 깨려는 노력이 필요하다.
25년 차 인사전문가, 한준기 라이나생명 인사총괄 전무와 진행한 피플앤인사이트의 HR Insight 14회 <hr,>의 내용 중 일부입니다.
[프로그램 특징]
1. 실제컨설팅 케이스를 배우고 응용하여, 우리회사의 경영전략과 연계되는 HR전략을 세울 수 있습니다.
-HR전략 프로세스와 HR의 전략적 동반자로서 역할을 이해합니다.
-조직의 변화관리와 혁신을 위한 우리 조직의 현재를 점검합니다.
-특히, 다양한 컨설팅 실제 사례들을 통해 배우는 현장기반의 과정입니다.
2. 조직을 명확하게 진단하는 방법을 제공합니다.
-조직진단의 프레임워크를 기반으로 내부역량 및 핵심이슈를 도출합니다.
-조직진단에 요구되는 설문과 인터뷰 스킬을 배웁니다.
3. 채용, 평가, 보상, 육성을 위한 툴을 종합적으로 배웁니다.
-조직의 특성 및 진단 목적에 따른 채용, 보상, 평가, 육성을 위한 툴을 배우고 적용할 수 있는 역량을 키웁니다.
The guide provides an overview of the business environment in Thailand, with information about company establishment, taxation, intellectual property rights, and legal issues.
The guide provides an overview of the business environment in Thailand, with information about company establishment, taxation, intellectual property rights, and legal issues.
When considering the registration of a new company or relocation of your company in Bangladesh, keep in mind that most companies in Bangladesh are registered as private limited companies (commonly known as limited private companies). Limited private companies in Bangladesh are separate legal entities and shareholders not responsible for corporate debt exceed the amount of social capital they have contributed. According to the Companies Act of 1994, anyone (foreign or local) over the age of 18 can register a company in Bangladesh.
A branch office is a suitable business model for foreign companies looking to establish a temporary presence in India. The branch office serves as an extension of the head office business and carries on the same business and activity as that of its parent company.
How a foreign company is registered in India? What is Foreign Company Registration Number? What are the documents to be filed with ROC by Foreign Companies?
How a foreign company is registered in India? What is Foreign Company Registration Number? What are the documents to be filed with ROC by Foreign Companies?
Registering Joint Venture Company in MyanmarLawPlus Ltd.
1. Overview of Myanmar Company Act
2. Company Registration Procedures
3. Check the Company Name
4. Application Forms and Other Related documents for Joint Venture Co.
5. Preparation for Memorandum of Association and Articles of Association
6. Paying Registration Fees and Stamp Duty Fees
7. Obtaining Temporary Incorporation Certificate and Temporary Permit to Trade Issued by DICA
8. Paying Registration Fees and Stamp Duty Fees
9. Required Documents for Opening Bank Account
10. Transferring Minimum Capital to Bank Account
11. Obtaining the Permanent Certificates
Choosing the right entity type could be a time taking process, but with the right information you can start your venture pretty soon. This Presentation would give exactly the right information that is self sufficient to incorporate a One Person Company in India.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
DNA Testing in Civil and Criminal Matters.pptxpatrons legal
Get insights into DNA testing and its application in civil and criminal matters. Find out how it contributes to fair and accurate legal proceedings. For more information: https://www.patronslegal.com/criminal-litigation.html
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
Introducing New Government Regulation on Toll Road.pdfAHRP Law Firm
For nearly two decades, Government Regulation Number 15 of 2005 on Toll Roads ("GR No. 15/2005") has served as the cornerstone of toll road legislation. However, with the emergence of various new developments and legal requirements, the Government has enacted Government Regulation Number 23 of 2024 on Toll Roads to replace GR No. 15/2005. This new regulation introduces several provisions impacting toll business entities and toll road users. Find out more out insights about this topic in our Legal Brief publication.
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptxOmGod1
Precedent, or stare decisis, is a cornerstone of common law systems where past judicial decisions guide future cases, ensuring consistency and predictability in the legal system. Binding precedents from higher courts must be followed by lower courts, while persuasive precedents may influence but are not obligatory. This principle promotes fairness and efficiency, allowing for the evolution of the law as higher courts can overrule outdated decisions. Despite criticisms of rigidity and complexity, precedent ensures similar cases are treated alike, balancing stability with flexibility in judicial decision-making.
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
2. To form a company in India, you must meet the following requirements:
• The company must be registered with the relevant Registrar of Companies in the area you are setting it
up;
• The company must be organized with reference to the relevant provisions of The Companies Act 1956;
• The necessary registration forms need to be filed with the Ministry of Corporate Affairs; and
• Directors need to be appointed. For this, the proper director identification number forms need to be
completed
3. The Companies Act of 1956 sets down rules for the establishment of both public and private companies.
The most commonly used corporate form is the limited company, unlimited companies being relatively
uncommon. A company is formed by registering the Memorandum and Articles of Association with the
State Registrar of Companies of the state in which the main office is to be located.
Foreign companies engaged in manufacturing and trading activities abroad are permitted by the Reserve
Bank of India to open branch offices in India for the purpose of carrying on the following activities in India:
# To represent the parent company or other foreign companies in various matters in India, for example,
acting as buying/selling agents in India, etc.
# To conduct research work in which the parent company is engaged provided the results of the research
work are made available to Indian companies
# to undertake export and import trading activities
# to promote possible technical and financial collaboration between Indian companies and overseas
companies.
Application for permission to open a branch, a project office or liaison office is made via the Reserve Bank
of India by submitting form FNC-5 to the Controller, Foreign Investment and Technology Transfer Section of
the Reserve Bank of India. For opening a project or site office, application may be made on Form FNC-10 to
the regional offices of the Reserve Bank of India. A foreign investor need not have a local partner, whether
or not the foreigner wants to hold full equity of the company. The portion of the equity thus not held by
the foreign investor can be offered to the public.
4. INCORPORATING A COMPANY - APPROVAL OF NAME
• The first step in the formation of a company is the approval of the name by the Registrar of Companies
(ROC) in the State/Union Territory in which the company will maintain its Registered Office. This
approval is provided subject to certain conditions: for instance, there should not be an existing
company by the same name. Further, the last words in the name are required to be "Private Ltd." in the
case of a private company and "Limited" in the case of a Public Company. The application should
mention at least four suitable names of the proposed company, in order of preference. In the case of a
private limited company, the name of the company should end with the words "Private Limited" as the
last words. In case of a public limited company, the name of the company should end with the word
"Limited" as the last word
5. • The ROC generally informs the applicant within seven days from the date of submission of the
application, whether or not any of the names applied for is available. Once a name is approved, it is
valid for a period of six months, within which time Memorandum of Association and Articles of
Association together with miscellaneous documents should be filed. If one is unable to do so, an
application may be made for renewal of name by paying additional fees. After obtaining the name
approval, it normally takes approximately two to three weeks to incorporate a company depending on
where the company is registered.
6. MEMORANDUM AND ARTICLES
• The Memorandum of Association and Articles of Association are the most important documents to be
submitted to the ROC for the purpose of incorporation of a company. The Memorandum of Association
is a document that sets out the constitution of the company. It contains, amongst others, the objectives
and the scope of activity of the company besides also defining the relationship of the company with the
outside world.
The Articles of Association contain the rules and regulations of the company for the management of its
internal affairs. While the Memorandum specifies the objectives and purposes for which the Company
has been formed, the Articles lay down the rules and regulations for achieving those objectives and
purposes.
7. • The ROC will give the certificate of incorporation after the required documents are presented along with the
requisite registration fee, which is scaled according to the share capital of the company, as stated in its
Memorandum. A private company can commence business on receipt of its certificate of incorporation.
A public company has the option of inviting the public for subscription to its share capital. Accordingly, the
company has to issue a prospectus, which provides information about the company to potential investors. The
Companies Act specifies the information to be contained in the prospectus.
The prospectus has to be filed with the ROC before it can be issued to the public. In case the company decides
not to approach the public for the necessary capital and obtains it privately, it can file a "Statement in Lieu of
Prospectus" with the ROC.
On fulfillment of these requirements, the ROC issues a Certificate of Commencement of Business to the public
company. The company can commence business immediately after it receives this certificate.
Certificate of Incorporation
8. MISCELLANEOUS DOCUMENTS
• The documents/forms stated below are filed along with Memorandum of Association and Articles of
Association on payment of filing fees (depending on the authorised capital of the company):
# Declaration of compliance, duly stamped
# Notice of the situation of the registered office of the company
# Particulars of Directors, Manager or Secretary
# Authority executed on a non-judicial stamp paper, in favour of one of the subscribers to the
Memorandum of Association or any other person authorizing him to file the documents and papers for
registration and to make necessary corrections, if any
# The ROC’s letter (in original) indicating the availability of the name.
9. TAX REGISTRATION
• Businesses liable for income tax must obtain a tax identification card and number [known as Permanent
Account Number (PAN)] from the Revenue Department. In addition to this, businesses liable to
withhold tax must necessarily obtain a Tax Deduction Account Number (TAN). Both the PAN and the TAN
must be indicated on all the returns, documents and correspondence filed with the Revenue
Department. The PAN is also required to be stated in various other documents such as the documents
pertaining to sale or purchase of any immovable property (exceeding Rs. five lakh), sale or purchase of a
motor vehicle, time deposit (exceeding Rs. 5 lakh), contract for sale or purchase of securities (exceeding
Rs. 10 lakh), to name a few.
10. RULES APPLICABLE
Companies (Central Governments') General Rules and Forms,1956
Filing Registering/Approving Authority
One copy has to be submitted along with a forwarding letter addressed to the concerned Registrar of
Companies
11. ENCLOSURES
• The declaration must be submitted with the following annexure
# Document evidencing payment of fee
# Memorandum and Articles of Association
# Copy of agreement if any, which the proposed company wishes to enter into with any individual for
appointment as its managing or whole-time director or manager
# Form 18
# Form 32 (except for section 25 company)
# Form 29 (only in case of public companies)
# Power of Attorney from subscribers
# Letter from Registrar of Companies making names available
# No objection letters from directors/promoters
# Requisite fees either in cash or demand draft
12. FEES
• Fee payable depends on the nominal capital of the company to be registered and may be paid in one of
the following modes. Cash/postal order (upto Rs.501-), demand draft favouring Registrar of
Companies/Treasury Challan should be payable into specified branches of Punjab National Bank for
credit
13. COMPLIANCE REQUIREMENTS FOR COMPANIES IN INDIA
Corporate Tax Returns
• Companies must file annual corporate tax returns with the Income Tax Department.
• Companies that maintain international transactions as well as domestic transactions with related parties must
also file an annual transfer pricing audit.
Withholding Tax Returns
• Companies that make payments to entities outside of India for certain types of services (royalties, technical
work, etc ) are required to withhold the requisite taxes and also file a corresponding withholding tax form on
the relevant payments.
• Companies are also required to deduct a special type of withholding tax called the Tax Deducted at Source on
payments made to entities in India.
• Companies are required to file a withholding tax return every quarter.
• Withholding tax deductions for foreign payments must be certified by a Chartered Accountant.
Excise Duty for Manufacturers
• Companies that are involved in the production and manufacturing of goods must comply with the Central
Excise Act. This requires companies to pay duties at a specific rate on the manufactured goods that are
removed from their premises.
14. Service Tax for Service Providers
• Service providing companies are required to file biannual tax returns and make monthly payments towards
service tax on the value of services that they provide (not charged on services rendered outside of India).
Other Taxes
• A customs duty is also levied on all imports. This duty is to be paid when the relevant items are brought over
for clearance at Indian Customs.
• Companies are required to pay value-added tax and file returns.
• Companies are required to register and pay a profession tax for the trade or profession they are working on in
a particular state. This tax is levied on a company and their employees. The company pays the tax on behalf of
their employees, which is then deducted from the employee’s salary.
RBI Compliance
• The Reserve Bank of India (RBI) recently introduced something called the Annual Return of Foreign Assets and
Liabilities to account for profits that companies make in connection to foreign direct investment. It is similar to
a tax return, and it is to be filed annually.
• All liaison offices and/or project offices are required to report their activities to the RBI as necessary.
15. Other Requirements
• When first established a private company requires a minimum of two shareholders or members (with a
maximum cap of 50 members). This number is increased to seven when starting a public company.
• There is a minimum of two directors necessary for a private company, and three for a public company.
• There is a minimum requirement for companies to hold a board meeting every quarter. If a director
does not attend at least two meetings a year, than they may no longer serve as director.
• Each company must hold one annual general meeting (AGM) per year, during which they will review the
company’s financial information. An independent auditor must be present at the meeting.