Managing Your Accounting and Bookkeeping in India – New Issue of India Briefing Magazine
- Ind-AS: Preparing for India’s New Accounting Standards
- Complying with India’s Tax Filing Requirements
- Remitting Profits from India: Procedures & Regulations for Foreign Businesses
The beginning of the new financial year is often a busy time for companies in India. After closing books for the 2014-15 financial year, businesses need to prepare for a number of related compliances that follow. While these operational concerns are certainly not unique to India, India’s business climate continues to evolve rapidly – the government is introducing a number of new compliances to compliment the old.
In this issue of India Briefing magazine, we spotlight three issues that financial management teams for India should monitor.
In the first article, we examine the new Indian Accounting Standards (Ind AS) system, which is expected to be a boon for foreign companies in India. We then highlight common filing dates for most companies with operations in India, specifically filings related to income tax, the Reserve Bank of India (RBI), and the Ministry of Corporate Affairs (MCA). Lastly, we examine procedures and regulations for remitting profits from India – a procedure that is often an afterthought for foreign businesses but which should be planned during the pre-investment phase.
As business interests in India grow, we invite our readers to stay in contact with Dezan Shira and Associates in India. Our team has assisted a diverse array of clients meet their accounting and bookkeeping obligations in India – we are always happy to help businesses plan ahead.
Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email email@example.com or visit www.dezshira.com.
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Establishing Your Sourcing Platform in India
In this issue of India Briefing, we highlight the advantages India possesses as a sourcing option and explore the choices available to foreign companies seeking to create a sourcing presence here. In addition, we examine the relevant procurement, procedural and tax duty concerns involved in sourcing from India, and conclude by investigating the importance of supplier due diligence – a process that, if not conducted correctly, can often prove the undoing of a sourcing venture.
Taking Advantage of India’s FDI Reforms
In this edition of India Briefing Magazine, we explore important amendments to India’s foreign investment policy and outline various options for business establishment, including the creation of wholly owned subsidiaries in sectors that permit 100 percent foreign direct investment. We additionally explore several taxes that apply to wholly owned subsidiary companies, and provide an outlook for what investors can expect to see in India this year.
Passage to India: Selling to India’s Consumer Market
In this issue of India Briefing Magazine, we outline the fundamentals of India’s import policies and procedures, as well as provide an introduction to the essentials of engaging in direct and indirect export, acquiring an Indian company, selling to the government and establishing a local presence in the form of a liaison office, branch office, or wholly owned subsidiary. We conclude by taking a closer look at the strategic potential of joint ventures.
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