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Doing Business in INDIA

Doing Business in INDIA. N.K. SUKHADIA & Co., Chartered Accountants Advisory. Tax. Assurance. Basic Statistics of INDIA. Land: 3.29 million square kilometers Population: 1,150,000,000 (1.15 billion) Languages: 22 languages recognized by Indian Constitution

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Doing Business in INDIA

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  1. Doing Business in INDIA N.K. SUKHADIA & Co., Chartered Accountants Advisory. Tax. Assurance

  2. Basic Statistics of INDIA • Land: 3.29 million square kilometers • Population: 1,150,000,000 (1.15 billion) • Languages: 22 languages recognized by Indian Constitution • Currency: Indian Rupee (INR 1 = Paise 100) • Time Zone: GMT +5.30 hours • FDI in 2009: INR 131,237 crores (US $ 27,098 million) N.K.Sukhadia & Co., Chartered Accountants

  3. Forms of Business Organization in INDIA N.K.Sukhadia & Co., Chartered Accountants

  4. Obligations of Business Organization in INDIA N.K.Sukhadia & Co., Chartered Accountants

  5. Obligations of Business Organization in INDIA (contd.) 1.Various Tax Laws: • Income Tax Act, Wealth Tax Act, Central/State Value Added Tax, Service Tax/Excise Duty, Profession Tax, Custom Duty etc • Obtaining Registration with the respective departments • Filing Returns • Current Corporate Tax rate = 30% N.K.Sukhadia & Co., Chartered Accountants

  6. Obligations of Business Organization in INDIA (contd.) 2. EXCHANGE CONTROL REGULATIONS: • FEMA Act,FDI Policy/Press Notes, Notification and Circular issued by RBI • Complying with the above acts and notifications. 3. CORPORATE LAWS: • Companies Act, SEBI Act, etc. • Complying with the above acts and notifications. N.K.Sukhadia & Co., Chartered Accountants

  7. Obligations of Business Organization in INDIA (contd.) 4. LABOUR/ MISC LAWS: • Payment of Bonus Act • Worksmen compensation act • Industrial Dispute act • Payment of gratuity act • Indian contract act N.K.Sukhadia & Co., Chartered Accountants

  8. DTAA’s with INDIA • India has Double Taxation Avoidance Agreements with almost 78 countries including United States of America and United Kingdom. • DTAA provisions to override Indian Income Tax Act. • DTA provides for relief of Tax and Credits in many cases. N.K.Sukhadia & Co., Chartered Accountants

  9. Cost and Capital of Company • Private limited company: • Minimum capital – INR 0.1 million (Euros 1550 app.) • Minimum Statutory fees INR 7500/-(Euros 115 app.) • Company Management Cost- variable to size and operations of the company. N.K.Sukhadia & Co., Chartered Accountants

  10. Thank You N.K.Sukhadia & Co., Chartered Accountants

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