Other Briefings
PAN Requirements for Foreign Nationals during Company Incorporation
Intending directors who are foreign nationals are no longer required to possess and submit a PAN during incorporation with INC-7 according to new circulars.
Modi Cabinet Constitutes Special Investigative Team on Black Money
At Prime Minister Narendra Modi’s first cabinet meeting yesterday, a special investigative team was established to recover “black money,” or undeclared income, from international tax havens.
India Allows Conditional FDI in Limited Liability Partnerships (LLP)
The Reserve Bank of India has notified that limited liability partnerships can now accept foreign direct investment (FDI), subject to certain criteria. With these changes, limited liability partnerships would be eligible for FDI with government approval in sectors where 100 percent FDI is permitted.
India FDI M&A Pricing Guidelines Revised
The Reserve Bank of India (RBI) rolled out its first bi-monthly Policy Statement on April 1st, part B of which constitutes Development and Regulatory Policies addressing several areas.
Mandatory Corporate Identification Rules Take Effect
As part of the Indian Companies Act 2013, companies are now required to quote additional content on official corporate correspondence and publications.
Changes to CENVAT Credit Rules Take Effect April First
On April first, the Third and Fourth Amendments to India’s Central Value Added Tax (CENVAT) Credit Rules 2004, which govern the CENVAT Credit of Central Excise Duty and Service Tax, will become effective.
India’s Corporate Social Responsibility Mandate: The Companies Act 2013
The requirements for India’s Corporate Social Responsibility Mandate are outlined for companies incorporated in India. These are stipulated in the Companies Act 2013.
Changes to India’s Patent Rules
Several notable changes to India’s patent rules came into effect on February 28, including the introduction of a “small entity” category to the application process. Here we outline these changes, which are of direct relevance to foreign companies operating in the country.
