Other Briefings
India’s MCA Cuts Down Company Registration Time
Aug. 25 – The Ministry of Corporate Affairs has cut down measures under MCA-21 to facilitate the registration of a company within 24 to 48 hours where there is no complexity about availability of names.
CSR Contribution Based on Net Profit
Aug. 17 – India’s Ministry of Corporate Affairs stated that the Department of Public Enterprises and the Ministry of Heavy Industries and Public Enterprises have issued complete guidelines on corporate social responsibility (CSR) for central public sector enterprises (CPSEs) in April 2010. In these guidelines, CPSEs are obligated, through a board resolution, to generate a […]
One More Step towards FDI in India’s Multi-Brand Retail
Aug. 10 – Multi-brand retailing, perhaps the most vital issue of the new century in terms of FDI in India, has gone ahead by one more step. The top notch secretaries of the Indian government have forwarded 10 recommendations to the Commerce and Industry Ministry. According to government officials, the ministry is evaluating it and […]
New Issue of India Briefing: Tax and Financial Management
In this new issue of India Briefing, we take a look at the Indian tax environment generally, including types of taxes, fees and key dates, and continue on to focus specifically on requirements for foreign companies. Next, we look closer at the generous tax benefits available in Special Economic Zones, contingent on sector and operating dates, and finally expand our focus to India’s international trade agreements.
India Considers New Law to Regulate Micro-lenders
The Indian government recently proposed to establish a new law in order to better regulate the country’s microfinance industry that is faced with complaints of aggressive lending practices and high interest rates.
HSBC India Foreign Bank Account Client Indicted on FBAR Tax Return Charges
Jul. 8 – The U.S. Department of Justice (DOJ) and Internal Revenue Service (IRS) announced last week the indictment of an HSBC India client on four counts of filing false tax returns and four counts of failure to file a Foreign Bank Account Report, form TD F 90-22.1 (FBAR). Each tax return charge can result […]
Payment of MCA 21 Fees/ROC Fees through NEFT
MCA 21 payments can be done via credit card, internet banking and physical challan currently. Now, the ministry has recognized five banks (Indian Bank, HDFC, ICICI, PNB and SBI) for collection of MCA 21 fees, which means that only the account holders of these banks can avail Internet banking facility.
Discussion on Liberalization of FDI in Defense and Retail
Jul. 4 – According to the Finance Minister of India, recent FDI policies have become more user-friendly, as all previous regulations and guidelines have been consolidated into one comprehensive document that is now reviewed every six months. The Finance Minister said that this has been done to enhance the clarity and accessibility of our FDI […]
