Doing Business in India - RSM Austria

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Sr. No. Nature of activity and location Type of Quantum of organization exemption vii. Any undertaking which starts providing tele-communication services, whether basic or cellular, including radio paging, domestic satellite service or network of trunking, broadband network and internet services on or after 1 April 1995 but before 31 March 2005. The restrictions on transfer of old p l a n t a n d m a c h i n e r y a n d reconstruction of business are made applicable to the telecom sector with effect from 1 April 2004. All 100% 30% viii. Any undertaking which begins to develop or develops and operates or maintains and operates an industrial park or SEZ notified by the Central Government which has commenced operations during 1 April 1997 to 31 # March 2009 . # - As per amendments by The Special Economic Zones Act 2005, the exemption will not be available for SEZs notified after 1 April 2005. Exemption will now be available under a new section 80 IAB. All 100% Number of years First 5 years Next 5 years The above 10 years shall be consecutive assessment years out of first 15 years. 10 years out of first 15 assessment years ix. Any assessee being developer of a SEZ All 100% 10 years out of notified by the Central Government after first 15 years 1 April 2005. x. Any undertaking, which begins All 100% First 7 years commercial production of mineral oil in any part of India on or after 1 April 1997 and for refining of mineral oil on or after 1 October 1998 but not later than 31 March 2012 subject to certain conditions. The tax holiday is also available in respect of profits arising from the commercial production of natural gas from blocks which are licensed under the VIII Round of bidding for award of exploration contracts under the New E x p l o ra t i o n L i ce n c i n g Po l i c y announced by the Government of India and IV Round for the Coal Bed Methane and begins commercial production of natural gas on or after 1 April 2009. xi. Any undertaking engaged in All 100% Not applicable developing and building housing projects approved by a local authority before 31 March 2008 108 DOING BUSINESS IN INDIA
Sr. No. Nature of activity and location In case of projects approved on or after 1 April 2004, it should be completed within 4 years from the end of the financial year in which it is approved. In case of projects approved on or after 1 April 2005, it should be completed within 5 years from the end of the financial year in which it is approved. This amendment will take effect from AY 2010-11. In other cases it should be completed before 31 March 2008. The deduction is allowed subject to fulfillment of various other conditions like minimum area of the land, maximum built-up area of residential and commercial units etc. In case of multiple approvals from the local authority, the date of first approval will be considered for the calculation of time limit of completion. With retrospective effect from financial year 2000-01, nothing contained in the said sub-section shall apply to any undertaking which executes the housing project as a works contract awarded by any person (including Central or State Government). The above deduction is subject to condition that not more than one residential unit is allotted to any person not being an individual and in a case where a residential unit in the housing project is allotted to a person being an individual, no other residential unit in such housing project is allotted to any of the following persons Type of Quantum of organization exemption Number of years i. the spouse or minor children of such individual, ii. the HUF in which such individual is the karta, iii. any person representing such individual, the spouse or the minor children of such individual or the HUF in which such individual is the karta. DOING BUSINESS IN INDIA 109
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International global excellence in
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Doing business in India
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Marine Drive, Mumbai
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Contents Hawa Mahal, Jaipur
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Education .........................
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SIGNIFICANT COMPANY LAW REGULATIONS
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ANNEXURE 1 Sectors Prohibited for F
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Chapter 1 India - A Profile Golden
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2.2 Language India is a land of man
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5.2 Communication The Indian teleph
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7.5 Public Holidays The statutory p
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CHAPTER 2 INDIAN BUSINESS AND INVES
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This resulted in a fall in the Bomb
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4.3.3 Designs After expiry of three
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non-banking finance activities viz.
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trading in derivative based on BSE
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same as those where concessional fi
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10.3 Low Research and Development C
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CHAPTER 3 BUSINESS ENTITIES 1.0 FOR
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Sr. No. Criteria Requirements 1 Tra
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The project is funded by inward rem
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cause the disassociation of the par
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2.1.2 MOA 2.1.3 AOA Companies for r
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paid up equity capital can be less
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The requirements for public and pri
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3.0. STATUTORY REQUIREMENTS FOR COM
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3.4 Online Filing System Ministry o
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Section Nature of default 168 Defau
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4.0 SIGNIFICANT COMPANY LAW REGULAT
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4.7 Audit Committees For better cor
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The meetings of the board are requi
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Chapter 4 Human Resources Kathakali
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Employee benefit What is it? Applic
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Employee benefit D e p o s i t L i
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2.5 The Equal Remuneration Act, 197
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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.
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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 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)
Page 122 and 123: Sr. No. Nature of activity and loca
Page 126 and 127: Sr. No. Nature of activity and loca
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 156 and 157: ANNEXURE II: TAX DEDUCTION AT SOURC
Page 158 and 159: NOTES 142 DOING BUSINESS IN INDIA
Page 164: RSM International Executive Office,
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