Entering India is now easier than it is in China
May 8 – The Indian government has recently enacted a slew of measures that will seek to further liberalize the visa regime in the country and to boost the number of arriving foreign tourists and businessmen.
The government has approved the introduction of the Visa on Arrival (VoA) facility for individuals in five additional airports. In conjunction with airports in Delhi, Mumbai, Chennai and Kolkata, VoAs will now also be accepted at airports in Hyderabad, Bangalore, Kochi, Trivandrum and Goa.
Furthermore, the government has also extended the VoA option to include groups of four or more tourists. This group VoA facility has been granted to all countries except Afghanistan, China, Iran, Iraq, Sudan and Pakistan and foreigners of Pakistani origin. Continue reading
Mar. 29 – When a non-resident earns any income in India by way of royalties or fees for technical services, they are liable to pay the relevant taxes. The official definition of royalties and fees, as stipulated by Section 9 of the Income Tax Act 1961, can be found below. Continue reading
Mar. 5 – India’s Finance Minister Mr. P. Chidambaram recently presented his 2013 Budget to the Indian Parliament in one of the most keenly awaited documents of recent years. The coming year’s Budget has been seen as critical by both Indian and international analysts, as many see 2013 as the year India may regain its impressive growth rates, but also where the Indian government must implement concrete plans to avoid the emergence of long-term fiscal problems.
Speaking to the New York Times, Rajiv Kumar, and an economist with the Center for Policy Research in New Delhi, called the Budget “supercritical.”
Mr. P. Chidambaram clearly reflected the seriousness of the government’s intent to improve investor confidence in its fiscal policy.
“The main thrust of the Budget is to signal the world and everyone else that we are following a prudent fiscal path and that the fiscal deficit will be contained,” said the Finance Minister. “Foreign investment is an imperative.” Continue reading
By Alex Tangkilisan
Feb. 7 – The ASEAN–India Free Trade Area (AIFTA) is a free trade area consisting of the 10 member states of the Association of Southeast Asian Nations (ASEAN) and India. The initial framework agreement was signed in Bali, Indonesia, on October 8, 2003, and the final agreement was signed on August 13, 2009. The free trade area came into effect on January 1, 2010.
In the aftermath of the recent ASEAN-India Commemorative Summit in New Delhi on December 20-21, 2012, and the subsequent passing of the free trade agreement (FTA) on services and investments, economic ties and prosperity are set to blossom between the two regions. Continue reading
By Gunjan Sinha
Feb. 6 – Indian companies that were incorporated under the Companies Act 1956 must file their annual return and audited accounts with the Registrar of Companies (ROC) every year. The annual forms that have to be filed with the Registrar of Companies, including a greater description of the particulars, are shown below.
By Gunjan Sinha
Jan. 14 – The Digital Signature Certificates (DSC) utilized in India effectively serve as the digital equivalent of a hand written signature which has extra data attached electronically to any message or document. DSCs also ensure that no alterations are made to the data once the document has been digitally signed. A DSC is normally valid for one or two years, after which it can be renewed.
Digital signatures are easily transportable, cannot be imitated by someone else, and can be automatically time-stamped. Furthermore, the ability to ensure that the original signed message arrived means that the sender cannot easily repudiate it later. Continue reading
By Gunjan Sinha
Jan. 8 – The Companies Act (1956), which regulates setting up and running companies in India, requires all classes of companies in India (irrespective of size or capital) to maintain a list of Statutory Registers.
This list contains the stipulated information that a company is required to disclose to its stakeholders, generally including details about the company, its shareholders and directors, mortgaged property, dividends, execution of common seal, etc. Continue reading
Dec. 20 – One of the primary objectives of India’s Maternity Benefit Act (1961) is to maintain the health of a pregnant female employee and her child. The act applies to every factory, mine or plantation (including those belonging to government), and to every shop or establishment wherein 10 or more people are employed.
To be eligible to receive maternity benefits, the pregnant female employee must have worked for at least 80 days within the 12 months immediately preceding her date of delivery. Pregnant female employees can receive payment of up to six weeks of leave before delivery, and then can receive payment while taking up to six weeks of leave after delivery (within 48 hours of submitting proof of birth). Continue reading