Ease of doing business: Government Plans to Introduce New Integrated from For Company Registration

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The government plans to introduce a new version of the integrated company incorporation gurgaon form in a measure aimed at enhancing ease of doing business that targets reduction in average number of days for incorporating a company to one to two days from more than four days at present.

The reservation of a name, incorporation of company and appointment of directors of the proposed company can be filed in the integrated form. The government said the time taken for company registration gurgaon has already been halved through measures introduced to enhance ease of doing business.

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Ordinance Likely To Amend Payment Of Wages Act

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A mid currency crunch, the government is mulling over bringing in an ordinance to amend the payment of wages Act for allowing business and industrial establishments to pay salaries through Cheques or by electronic modes.
“The government may bring an ordinance to amend Payment of Wage Act, 1936, to nudge employers of certain industries to make payment through electronic modes and cheques,” a source said Direct foreign investment in India.
The source further said, “The bill for the purpose was tabled in the Lok Sabha on December 15, 2016. It can be pushed for passage in the Budget session next year. Thus, instead of waiting for two more months, the government can issue the ordinance and later it will be passed in Parliament.” Standard practice is, government brings ordinance to amend laws for immediate implementation of new rules. An ordinance is valid for six months only. Government is required to get it passed in Parliament within that period in accounting outsourcing companies in India.
The Payment of Wages (Amendment) Bill, 2016, seeks to amend Section 6 of the principal Act to enable employers pay wages to their employees through cheques or by crediting it to their bank accounts electronically. The Bill was introduced by Labour Minister Bandaru Dattatreya amid din over demonetisation issue.

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More Online Services May Face Google Tax

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The government is likely to expand the scope of the equalisation levy, the so-called “Google tax”, to bring more digital transactions into the tax net in the upcoming budget to curb tax avoidance by multinational chartered accountant firms in mumbai. Online sales of goods and services; downloading of software, songs, movies and books; and online consumption of news are among the services that the government may consider for the levy.

The government has earned Rs.100 crore in revenue on account of the equalisation levy so far. Companies like Facebook, Yahoo, Twitter and Google earn significant revenues from India from local advertisers. A committee set up by the Central Board of Direct Taxes to examine indirect taxation in India of e-commerce had recommended an equalisation levy of 6-8 per cent on 13 broad services based on the OECD’s Base Erosion and Profit Shifting guidelines.

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Govt To Centralise New Company Registration Process To Improve Ease Of Doing Business

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In a significant step towards improving the ease of doing business, the Corporate Affairs Ministry will soon centralise the whole process related to registering a new company and strive to complete the processing within a day in doing business in India.

The Central Registration Centre (CRC) to speed up services for incorporation of companies, set up by the Corporate Affairs Ministry, is already functional.

The Ministry, which is implementing the Companies Act, has been taking various measures to further improve the ease of doing business in the country, a priority of the current government in setting up a subsidiary in India.

Continuing the efforts, CRC would now carry out the processing and disposal of e-forms and all related matters pertaining to registration of companies.

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Register a New Company With Company Formation India

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Registering a new company could not be simpler when registering online with company formation India. We are companies house e-filing partner which allows us to set up new limited companies online for our clients in the UK and overseas through our sister company. The company incorporation India website is integrated directly with companies house allowing you to check the availability of your company name. We can help clients from their companies within just 3 hours through our quick online company formation service.

What type of company do you want to form?

UK limited company
Limited liability partnership
Flat Management Company
Readymade company
Company limited by guarantee
Public limited company

Company formation online a quick and easy way to register a new company

Company formation in 6 simple steps
Choose your company name
Add additional business services
Checkout
Enter your company details
Submission to companies house

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India, Singapore Revise Tax Treaty

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The government signed a pact with its Singapore counterpart on 30th Dec, 2016, amending their decade-old tax treaty, gaining indirect taxation in India rights over capital gains. This is the third double taxation avoidance agreement (DTAA) amended so far this financial year with a zero or low tax jurisdiction. The other two were with Mauritius and Cyprus. According to tax consultants in India, Mauritius would be the most attractive source of investments into India for debt funds and Singapore for equity investments. Mirroring the revised IndiaMauritius DTAA, the government has some grandfathering.

“2016 has been historic, with all three tax treaties amended… The treaties were misused to round-trip domestic black money and bring it back to India through these routes. There has been a significant battle by India against black money. It is a happy coincidence that by amending these treaties, there has been a burial to the black money route that existed,” said Finance Minister Arun Jaitley on the revised DTAA. Mauritius and Singapore are the top two sources for direct foreign investment in India, about half of the total direct flow. Total FDI from Mauritius over the past decade and a half is USD 95.9 billion. That from Singapore is USD 45.8 bn The concessional rate of 50 per cent would be subject to fulfilment of conditions of Limitation of Benefit (LOB), an expenditure of at least Rs. 50 lakh in Singapore in the previous financial year. It is Rs.27 lakh in the case of Mauritius.

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Want to calculate your income tax? How you can do that

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If you think that calculating taxable income is a big thing, then you are wrong. It is simple the only thing you need to know is about the deductions and exemptions you are claiming for and the relevant sections. However, one must take the help of a chartered accountant or a financial advisor in doing so in wholly owned subsidiary in India

The salary received by an employee is taxed under the head income from salary. The computation of tax is done mainly on the gross salaried person in company incorporation in India.

It is necessary for every individual to understand the basic calculation for computing income tax. Suppose, somebody is earing an annual salary income of Rs. 11 lakh and has done the following investments In the financial year.

Get more info visit at: http://bit.ly/2jdfNsP

Royalty Paid to AE Wasn’t Capital Exp, As It was Paid For Use of Trademark and Not for its acquistion

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Where assessee-company made payment of royalty to its AE for mere use of trademark, that too by means of non-exclusive licence, it was to be allowed as revenue expenditure while determining ALP.
Assessee-company (GKN Driveline (India) Ltd.) was engaged in business of manufacture and sale of Constant Velocity Joints (CVJ) – During relevant year, assessee made payment of royalty to AE for use of its trademark in respect of manufactured products – In transfer pricing proceedings, TPO taking a view that payment in question was capital in nature, disallowed same and made certain addition to assessee’s ALP – It was noted that Tribunal in assessee’s own case relating to earlier assessment year, opined that assessee did not acquire any ownership right in trademarks by paying amount of royalty – It was further noticed that royalty was paid simply for use of trademarks, and that too tax consultancy firms in delhi, by means of a non-exclusive license – Tribunal had thus concluded that royalty payment was to be allowed as revenue expenditure – Whether in absence of any change in circumstances, following aforesaid order of Tribunal, impugned disallowance was to be deleted – Held, yes [In favour of assessee].

Companies With More Than 10 Times of Turnover of Assessee Couldn’t be Selected as Comparables.

Assessee-company (Acusis Software India (P.) Ltd.) was rendering ITES to its AE – Whether companies providing KPO services cannot be considered as comparable – Held, yes – Whether companies having turnover in excess of 10 times of turnover of assessee could not be selected as comparable – Held, yes – Whether companies having employees’ cost of less than 25 per cent were incomparable to assessee – Held, yes [Partly in favour of assessee] in chartered accountant firms in mumbai

Get more information visit at: http://bit.ly/2ka0GoH

Want to calculate your income tax? How can do that

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, , ,

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If you think that calculating taxable income is a big thing, then you are wrong. It is simple the only thing you need to know is about the deductions and exemptions you are claiming for and the relevant sections. However, one must take the help of a chartered accountant in delhi or a financial advisor in doing so.

The salary received by an employee is taxed under the head income from salary. The computation of service tax consultant in Delhi is done mainly on the gross salaried person.

It is necessary for every individual to understand the basic calculation for computing income tax. Suppose, somebody is earing an annual salary income of Rs. 11 lakh and has done the following investments In the financial year.

Read more information visit at: http://www.raaas.com/

Now Foreign Investors Can Invest In Unlisted Corporate Debt Securities.

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As announced in the Union Budget 2016-17, it has now been decided to expand the investment basket of eligible instruments for investment by FPIs under the corporate bond route to include the following:

(i) Unlisted corporate debt securities in the form of non-convertible debentures/bonds issued by public or private companies subject to minimum residual maturity of three years and end use-restriction on direct foreign investment in india real estate business, capital market and purchase of land.

Read more information http://bit.ly/2jToKZX