Income tax Return

Foreign Company Registration in India   In recent years, India has become one of the most sought after destination for doing business as well as investment. India has witnessed tremendous growth in FDI investment across the sectors. Further, India has witnessed growth in foreign company registration in India owing to huge middle class consumer base, vibrant economy, democratic set up and government’s initiative of ease of doing business and attracting foreign direct investment.   India has jumped to 63 rd position in year 2020 in ease of doing business report as compared to 142 nd position in the year 2015. However, still business set up in India is a challenging task and requires expert guidance and handholding in the entire process.   To begin with, there are many options for foreign company registration in India depending upon the long term vision and nature of business of foreign company.   Any foreign company or foreign investor may enter India in form of incor

  Foreign Company Registration in India  Over the years, the Government of India has eased the restrictions for making investment in India by foreign companies, foreign citizens and Non Resident Indians. This has resulted in more and more foreign company registration in India . Further, the government has framed the policies for extending the Ease of Doing Business in India and made necessary changes in this regard across the board whether it is FEMA regulations, FDI guidelines or RBI policies. Various states have also provided one window clearance system to reduce the time taken for various approvals before commencement of business operations. These measures have facilitated improving the ranking of India in ease of doing business. Further, this has encouraged more and more companies opting for company registration in India.   The government has provided its permission even to NRIs to make investment in India. Accordingly, NRIs and foreign companies can make investment in Indi

  Private Limited Company Registration Congrats for your new private limited company registration in India . However, are you aware of the fact that the taxation and regulatory compliance in India are quite cumbersome and any noncompliance of rules and regulations may lead to unnecessary interest and penalty and in some cases, even lead to imprisonment? 1) Therefore, it is very important for every Directors and officers of the company to keep note of various compliances to be done post company registration in India. 2)  In this writeup, we are providing an overview of various things to be done immediately by every private limited company in India.  3)        Hold Board meeting within 30 days of private limited company registration in India and appoint auditors of the company.   4)       Open the bank account and bring the share subscription money in the proportion of shareholding of the shareholders.   5)    Obtain certificate of commencement of business within 180 days of c

  Income Tax Assessment Faceless Assessment becoming nightmare for tax assesse!!!   Income tax assessment has always been a subject of concern for every businessman, whether big or small. Recently, the government has introduced new scheme of Faceless Income Tax Assessment and there were quite a high expectation of smooth conducting of Income tax faceless assessment, in a more transparent manner and providing some respite to the tax assesses. The intention behind faceless assessment was to eliminate the physical interaction between the assesse and the tax officials, make use of technology in the entire process and to reduce corruption and harassment of the honest tax payers. Inspite of all the well intent behind the introduction of faceless Income Tax Assessment , in reality, right from its inception, the tax payers are facing lot of issues which has led to discontent among the assesses. Section 144B which deals with the entire scheme of new Faceless Income Tax Assessme