Our collection of resources based on what we have learned on the ground
Resources
Q&A
How can foreign investors set up online business in China?
- February 2014
- Free Access
After opening up a physical shop in China, a foreign investor can set up an online store by creating a website through which selling is conducted. This will require the foreign investor to first set up a foreign-invested commercial enterprise (FICE) ...
Q&A
How should debts be resolved when a Vietnamese business is to close down?
- January 2014
- Free Access
A company will be allowed to dissolve after it ensures to discharge any and all debts and property obligations in certain order. The company must also set up a meeting to liquidate its assets, and the subsequent meeting minutes should include the fo...
Q&A
What are foreign representation entities required to file in India?
- January 2014
- Free Access
For annual compliance, foreign representation entities are required to file the following: Audited balance sheet Profit and loss accounts Director's report Statutory auditors' report Annual account of holding company List of places of busines...
Q&A
What are the guidelines for the annual accounts' filing for Indian entities?
- January 2014
- Members Access
Annual accounts must be filed with the office of the concerned ROC within 30 days after the AGM. If an AGM is not held, then accounts should be filed within 30 days of the last date on which the AGM was required to be held. Accounts must relate to...
Q&A
What are the guidelines for the annual auditors' appointing for Indian entities?
- January 2014
- Free Access
Auditors are appointed by the Board of Directors. The appointed auditor must be a chartered accountant. She or he may not be an employee or partner of the company, hold security of the company or be indebted to it. The auditor is always appointe...
Q&A
What are the additional guidelines for annual accounts for Indian entities?
- January 2014
- Members Access
Every company with share capital is required to file an annual return with the ROC within 60 days from the date on which the AGM of the company was held. Returns should be accompanied by form 20 B. The return is to be signed digitally by the authoriz...
Q&A
How are corporate accounts audited in India?
- January 2014
- Members Access
The Income Tax Act stipulates that every person carrying out a business or profession in India is required to get their accounts audited by a chartered accountant. Foreign representation entities—liaison offices, branch offices and project offi...
Q&A
What are the basic taxation compliance requirements in India?
- January 2014
- Free Access
Basic taxation compliance requirements applicable to all businesses are as follows: Corporate income tax Employee tax deductions at source Other taxes as applicable, including sales tax/value-added tax, service tax and professional tax
Q&A
What is a Permanent Account Number (PAN) in India?
- January 2014
- Free Access
A Permanent Account Number (PAN) is a 10-digit alphanumeric code, printed on an identification card, for the reference of the Income Tax Department. Companies are required to obtain a PAN during the establishment process in order to file an income ta...
Q&A
What are the requirements for employee tax deductions at source in India?
- January 2014
- Members Access
All entities in India (including foreign representative offices and Indian setups like wholly owned subsidiaries) are required to make tax deductions at source on employees' salaries on behalf of the Income Tax Department. The payment and complianc...
Q&A
What is the Tax Deduction Account Number (TAN)?
- January 2014
- Members Access
The Tax Deduction Account Number (TAN) is a mandatory ten digit alphanumeric code for all persons who deduct tax at source, which must be cited during the process of deduction. Application forms and instructions for obtaining a TAN can be found on go...
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