Our collection of resources based on what we have learned on the ground

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podcast

Asia Briefing Magazine, March & April 2013 Issue: "Expanding Your China Business...

Asia Briefing Magazine, March & April 2013 Issue:

Christian Fleming, former Managing Editor at Asia Briefing, a Dezan Shira alumni, discusses the evolution of China’s economic growth model compared to Vietnam and India as alternatives in the region.

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Differences between Indian and International Accounting Standards

Differences between Indian and International Accounting Standards

This table compares the differences between Indian accounting standards and International Accounting Standards (IAS)/International Financial Reports Standards (IFRS).

Q&A

How can a ?true and fair view? be achieved in Indian audit?

How can a ?true and fair view? be achieved in Indian audit?

A “true and fair view” can only be satisfied if the financial statements are accurate and not misleading. The company can expect the auditor to have provided a true and fair view, if the following criteria are met: The accounts are pr...

Q&A

How many types of audit are there in the Indian system?

How many types of audit are there in the Indian system?

Generally, there are two main categories: Internal Audits; and Statutory Audits.   Internal audits are conducted at the behest of internal management in order to check the health of a company’s finances, and analyze operational eff...

Q&A

Who can be an auditor of a company in India?

Who can be an auditor of a company in India?

Only an independent chartered accountant or a partnership firm of chartered accountants can be appointed as the auditor of a company. The following persons are excluded from being qualified as company auditors according to the Companies Act: A bod...

Q&A

How should a company auditor prepare the audit report in India?

How should a company auditor prepare the audit report in India?

The company auditor is required to prepare the audit report as per the conditions set out in the Company Auditor’s Report Order 2003, which requires auditors to report on various aspects of the company, including, among other things, fixed asse...

Q&A

How should a foreign-invested entity prepare for annual audit in India?

How should a foreign-invested entity prepare for annual audit in India?

There are a couple of steps that are recommendable for preparing annual audit in India. The foreign company should: Brief the auditors on the nature of your business, the background of it, the business activities you carry out and to what extent y...

Q&A

What should a foreign company expect auditors to perform for Indian audit?

What should a foreign company expect auditors to perform for Indian audit?

The auditors should perform the following: They will verify whether the opening balances have been carried forward correctly from the previous year’s audited financial statements. They will examine the purchasing procedures and make sure th...

Q&A

What are the major taxes in India?

What are the major taxes in India?

There are four major taxes for foreign-invested enterprise in India: Corporate income Tax; Goods and Service Tax Reform; Capital Gains Tax; and Others.

Q&A

How is capital gains tax levied in India?

How is capital gains tax levied in India?

The applicable tax rate to business income of non-resident is around 42 percent. When the income from a sale is classified as business income under Indian law, then it will be taxable in India, only if such income accrues or arises in India or is att...

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Corporate Tax Rates in India and China

Corporate Tax Rates in India and China

The graph compares the Corporate Taxes between India and China.

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India's Foreign-Invested Entity Market Entry Option

India's Foreign-Invested Entity Market Entry Option

The table compares the foreign-invested entity market entry options in India

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