Doing Business in India - RSM Austria

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Education ................................................................................................................ 4 Medical Services.................................................................................................... 4 Housing.................................................................................................................... 4 INTERNATIONAL RELATIONS AND ASSOCIATIONS..................................... 4 CERTAIN KEY INFORMATION FOR VISITORS TO INDIA Indian Currency ..................................................................................................... 5 Visitors' Visas......................................................................................................... 5 Indian Standard Time........................................................................................... 5 Business Hours ...................................................................................................... 5 Public Holidays ...................................................................................................... 6 Tourism.................................................................................................................... 6 Attire Code.............................................................................................................. 6 CHAPTER 2 : INDIAN BUSINESS AND INVESTMENT ENVIRONMENT FRAMEWORK.......................................................................................................... 8 ECONOMIC TRENDS.............................................................................................. 9 ECONOMIC SECTORS ........................................................................................... 10 REGULATORY ENVIRONMENT Investor Protection ............................................................................................... 10 Price Controls......................................................................................................... 11 Registration of Intellectual Property................................................................ 11 Competition Policy................................................................................................ 13 Environmental Regulation................................................................................... 13 FINANCIAL SECTOR Banking System ..................................................................................................... 13 Insurance Sector ................................................................................................... 14 Capital Market........................................................................................................ 14 Stock Exchanges ................................................................................................... 15 Specialized Financial Institutions...................................................................... 16 Investment Institutions........................................................................................ 16 Mutual Funds.......................................................................................................... 16 Non Banking Finance Companies...................................................................... 17 Credit Rating Agencies ........................................................................................ 17 INCENTIVES FOR INDUSTRIES Concessional Finance........................................................................................... 17 Central Government Investment Study ........................................................... 17 State Government Incentives............................................................................. 18 DOING BUSINESS IN INDIA
INCENTIVES FOR EXPORTS................................................................................ 18 ENERGY, MINERALS AND OTHER NATURAL RESOURCES........................................................................................ 19 FOREIGN TRADE.................................................................................................... 19 OTHER FACTORS Language ................................................................................................................ 19 Trained Manpower................................................................................................. 19 Low Research and Development Costs............................................................ 20 Financial Reliability............................................................................................... 20 CHAPTER 3 : BUSINESS ENTITIES FORMS OF BUSINESS ENTITIES Companies .............................................................................................................. 22 Branches of Foreign Companies ........................................................................ 23 Liaison Offices ....................................................................................................... 24 Project Office ......................................................................................................... 25 Partnerships ........................................................................................................... 26 Trusts ....................................................................................................................... 26 Limited Liability Partnerships (LLPs)............................................................... 26 SETTING UP A COMPANY Incorporation of a Company............................................................................... 29 Initial Capital Requirements ............................................................................... 31 Kinds of Shares...................................................................................................... 32 Debentures ............................................................................................................. 33 Public Deposits ...................................................................................................... 33 Directors.................................................................................................................. 33 Managing Director ................................................................................................ 35 Secretary................................................................................................................. 35 STATUTORY REQUIREMENTS FOR COMPANIES Annual Reports...................................................................................................... 36 Audit Requirements.............................................................................................. 36 Shareholders' Meetings ....................................................................................... 37 Online Filing System............................................................................................. 38 Filing of Documents / Returns ........................................................................... 38 Penalties for non compliance under the Companies Act, 1956 ................. 39 DOING BUSINESS IN INDIA
Page 1: International global excellence in
Page 4 and 5: Doing business in India
Page 6 and 7: Marine Drive, Mumbai
Page 8 and 9: Contents Hawa Mahal, Jaipur
Page 12 and 13: SIGNIFICANT COMPANY LAW REGULATIONS
Page 14 and 15: ANNEXURE 1 Sectors Prohibited for F
Page 16 and 17: Chapter 1 India - A Profile Golden
Page 18 and 19: 2.2 Language India is a land of man
Page 20 and 21: 5.2 Communication The Indian teleph
Page 22 and 23: 7.5 Public Holidays The statutory p
Page 24 and 25: CHAPTER 2 INDIAN BUSINESS AND INVES
Page 26 and 27: This resulted in a fall in the Bomb
Page 28 and 29: 4.3.3 Designs After expiry of three
Page 30 and 31: non-banking finance activities viz.
Page 32 and 33: trading in derivative based on BSE
Page 34 and 35: same as those where concessional fi
Page 36 and 37: 10.3 Low Research and Development C
Page 38 and 39: CHAPTER 3 BUSINESS ENTITIES 1.0 FOR
Page 40 and 41: Sr. No. Criteria Requirements 1 Tra
Page 42 and 43: The project is funded by inward rem
Page 44 and 45: cause the disassociation of the par
Page 46 and 47: 2.1.2 MOA 2.1.3 AOA Companies for r
Page 48 and 49: paid up equity capital can be less
Page 50 and 51: The requirements for public and pri
Page 52 and 53: 3.0. STATUTORY REQUIREMENTS FOR COM
Page 54 and 55: 3.4 Online Filing System Ministry o
Page 56 and 57: Section Nature of default 168 Defau
Page 58 and 59: 4.0 SIGNIFICANT COMPANY LAW REGULAT
Page 60 and 61:
4.7 Audit Committees For better cor
Page 62 and 63:
The meetings of the board are requi
Page 64 and 65:
Chapter 4 Human Resources Kathakali
Page 66 and 67:
Employee benefit What is it? Applic
Page 68 and 69:
Employee benefit D e p o s i t L i
Page 70 and 71:
2.5 The Equal Remuneration Act, 197
Page 72 and 73:
The Factories Act safeguards agains
Page 74 and 75:
CHAPTER 5 FOREIGN INVESTMENT IN IND
Page 76 and 77:
2.3 Prohibition on investments 2.3.
Page 78 and 79:
ii. Subject to compliance with the
Page 80 and 81:
ii. iii. iv. The NRI investor has t
Page 82 and 83:
ii. On repatriation basis An NRI ca
Page 84 and 85:
Indian company can issue ESOPs to e
Page 86 and 87:
ii. iii. iv. The foreign equity aft
Page 88 and 89:
vi. Branch Offices have to submit A
Page 90 and 91:
ii. ECB up to US$ 20 million or equ
Page 92 and 93:
3.2 Approval Route 3.2.1 Eligible B
Page 94 and 95:
3.2.6 End Use not permitted i. Util
Page 96 and 97:
issued by Reserve Bank from time to
Page 98 and 99:
Sr. No. Sector/Activity FDI Cap / E
Page 100 and 101:
Sr. No. II C POWER Sector/Activity
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Sr. No. 29. Sector/Activity Telecom
Page 108 and 109:
Chapter 6 Taxation System India Gat
Page 110 and 111:
Entity Domestic Company Financial y
Page 112 and 113:
**** Mutual funds, other than equit
Page 114 and 115:
interest deductible is restricted t
Page 116 and 117:
2.4 Tax Relief In order to encourag
Page 118 and 119:
Section Details of Exemption / Dedu
Page 120 and 121:
Section 35 DDA 54G 54GA 54EC 10(34)
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Sr. No. Nature of activity and loca
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Sr. No. xviii Nature of activity an
Page 130 and 131:
No deduction under 80IA, 80IB, 80IA
Page 132 and 133:
Tax is payable in advance on income
Page 134 and 135:
3.1.2 Other Non-corporate Entities
Page 136 and 137:
the Finance Act 2010, 'bullion' is
Page 138 and 139:
Rs. 40,00,000. The scheme is applic
Page 140 and 141:
4.5 Income of Offshore Funds Income
Page 142 and 143:
7.3 Advance Rulings The Indian gove
Page 144 and 145:
9.0 INDIRECT TAXES 9.1 Goods and Se
Page 146 and 147:
on goods manufactured and vice vers
Page 148 and 149:
Annexure I Double Taxation Avoidanc
Page 150 and 151:
Sr. No. Country Dividend [Note 1] T
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
ANNEXURE II: TAX DEDUCTION AT SOURC
Page 158 and 159:
NOTES 142 DOING BUSINESS IN INDIA
Page 160 and 161:
Page 162 and 163:
Page 164:
RSM International Executive Office,
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