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Essential Insights on Doing Business in India: A Guide by N.K. Sukhadia & Co.

Discover the fundamentals of doing business in India with this comprehensive guide by N.K. Sukhadia & Co., Chartered Accountants. Covering vital statistics, legal obligations, and corporate laws, this resource provides an overview of the Indian business landscape. Learn about the various tax laws, foreign direct investment policies, and compliance requirements. Understand the importance of Double Taxation Avoidance Agreements, with insights on corporate governance, labor laws, and the cost structure for businesses.

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Essential Insights on Doing Business in India: A Guide by N.K. Sukhadia & Co.

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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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