Other Briefings
New Issue of India Briefing: Tax and Financial Management
In this new issue of India Briefing, we take a look at the Indian tax environment generally, including types of taxes, fees and key dates, and continue on to focus specifically on requirements for foreign companies. Next, we look closer at the generous tax benefits available in Special Economic Zones, contingent on sector and operating dates, and finally expand our focus to India’s international trade agreements.
India Considers New Law to Regulate Micro-lenders
The Indian government recently proposed to establish a new law in order to better regulate the country’s microfinance industry that is faced with complaints of aggressive lending practices and high interest rates.
HSBC India Foreign Bank Account Client Indicted on FBAR Tax Return Charges
Jul. 8 – The U.S. Department of Justice (DOJ) and Internal Revenue Service (IRS) announced last week the indictment of an HSBC India client on four counts of filing false tax returns and four counts of failure to file a Foreign Bank Account Report, form TD F 90-22.1 (FBAR). Each tax return charge can result […]
Payment of MCA 21 Fees/ROC Fees through NEFT
MCA 21 payments can be done via credit card, internet banking and physical challan currently. Now, the ministry has recognized five banks (Indian Bank, HDFC, ICICI, PNB and SBI) for collection of MCA 21 fees, which means that only the account holders of these banks can avail Internet banking facility.
Discussion on Liberalization of FDI in Defense and Retail
Jul. 4 – According to the Finance Minister of India, recent FDI policies have become more user-friendly, as all previous regulations and guidelines have been consolidated into one comprehensive document that is now reviewed every six months. The Finance Minister said that this has been done to enhance the clarity and accessibility of our FDI […]
Employers to Have Compulsory Insurance for Overseas Workers
From August 1, 2011 all South Korean companies hiring overseas labor-intensive workers will be required from later this year to give to the departure expiration insurance to pay their retirement benefits.
Verifying the Accuracy of TDS Certificates
Jun. 28 – India’s National Securities Depository Ltd. (NSDL) has now begun an online service whereby any deductee can verify the accuracy of the TDS Certificate (Form 16A) issued by the deductor. For this particular purpose, the deductee must have the following details, or should have a copy of the TDS certificate issued by the […]
Fast Track Exit Mode Guidelines for Defunct Companies in India
Following are the Fast Track Exit (FTE) mode guiding principles for defunct companies in India under section 560 of the Companies Act, 1956.
