Ezybiz India

Subsidiary Company Registration in India Subsidiary company registration in India is one of the preferred modes of foreign company registration in India by the foreign companies looking to set up business in India. In this write up, we would be discussing about 5 things which every foreign company should know about subsidiary company registration in India: 1)       Although, for becoming subsidiary company, parent company needs to hold more than 50% shares in the Indian company or have control over its board of directors, however, parent company can hold even 100% shares in the Indian company, in which case Indian company would become wholly owned subsidiary of the parent company. In such case, 100% shares would be hold by parent company and 1 share would be held by nominee shareholder.   2)       Any documents which would be required from the parent company or foreign directors or foreign shareholders, same needs to be ...

  NRI Tax Return As we all know that in India, every year approx. 60 Million people files their Income Tax Return every year. These comprises of both Residents as well as Non Residents. In this write up, we will try to understand 5 things which everybody should know about NRI Tax Return Filing in India 1)       Taxability of NRI depends upon his/her residential status in India. In case of NRIs, only income earned in India or received in India or deemed to accrue or arise in India is taxable. Accordingly, any income earned outside India is not taxable in India. However, in case of Residents, the things are different and his/her income earned in India as well as income earned outside Indi are taxable in India. Salary of NRI received anywhere in the world will be taxable in India only if services are also rendered in India. Therefore, residential status plays a vital role in determining taxability of NRI as well as obligation of NRI tax return filing...

Form 15CA and 15CB Form 15CA and 15CB are one of the documents, besides other documents, asked by the banker from the remitter at the time of remittance of money outside India.   Post liberalization of Indian economy in 1992, over the years, India has witnessed tremendous growth in international transactions by not even corporates but also Resident Individuals.   Therefore, every day millions of transactions are done through banking channels in the form of receipt of money in India or remittance of money abroad. In order to regulate such transactions through normal banking channels, revenue authorities in India in consultation with Reserve bank of India has prescribed some mandatory documents and procedures in order to check the authenticity of such payments and in order to ensure smooth processing of such transactions. One such mechanism is filing of form 15CA and 15CB at the time of remittance of money abroad.   Accordingly, every remitter of money to N...

Private Limited Company Registration   In this write-up, we would be discussing about 5 things which everybody should know about private limited company registration i n India. 1)       In private limited company, the directors manage the day to day affairs of the company and they are separate from the company itself. The real owners are shareholders in the private limited company and shareholders may be different from the directors.   In other forms of entity like in proprietorship firm, proprietors are the owners of the firm and also manage the firm. Similarly, in case of partnerships and limited liability partnerships, partners are the owners and they manage the firm and LLPs respectively.   2)       In private limited companies as well as LLPs, name of the company needs to be get approved from ROC/MCA and it is the discretion of the ROC/MCA whether to grant approval for any particular name or not. In case of...

Subsidiary Company Registration in India   Subsidiary company registration in India is one of the most popular forms of entity registration by foreign companies when they want to set up business in India in the form of incorporated entity. As we know that foreign companies can Business set up in India in the form of Branch office, liaison office and project office which are unincorporated form of entity registration and also in the form of Private Limited Company, Public Limited Company and Limited Liability Partnerships which are incorporated form of company registration in India. In this write up, we would try to understand the process of subsidiary company registration in India in a brief manner.   What is a subsidiary company   When a parent company holds more than 50% shares or control in the Indian company, Indian company becomes subsidiary of the parent foreign company. On the other hand, when parent company holds 100% shares or control of the In...

Form 15CA and 15CB Whenever any remittance is required to be made to Non Resident or to foreign banks or foreign company, the bankers usually ask for copies of form 15CA and 15CB from the remitter.   In this writeup, we will try to understand about form 15CA and 15CB and when it is required.   Legal requirement of form 15CA and 15CB   As per rule 37BB of the Income Tax act, 1961, at the time of any payment to any non-resident or foreign company, which exceeds the amount of Rs 500000 ( Chargeable to tax), the remitter has to furnish the details under the form 15CA under the Income-tax act and also has to obtain form 15CB from Chartered Accountant. Nowadays, both form 15CA and 15CB needs to be filed online on the portal of the tax department.   What is form 15 CA?   Form 15CA is a sort of declaration which is filed online by the remitter wherein He states that proper taxes has been deducted at the time of making remittance of money abroa...

Foreign company registration in India   Today, we will discuss about the various options of Foreign Company Registration in India . India is one of the fastest-growing economies in the world with a lot of opportunities not only for Indians but also for foreign citizens. Further, various governments’ schemes including make in India scheme promotes globalization and attracts investors to invest in India. Accordingly, lots of foreign enterprises and citizens are showing interest in business set up in India .   Meaning of Foreign Company Sec 2 (42) of the Companies Act 2013 describes a foreign company as: “A foreign company is any company or body corporate incorporated outside India that— A)   Has a place of corporate in India whether by itself or through a mediator, actually or through electronic mode; and B)   performs any business activity in India in any manner. There are many options for a foreign company to enter Indian marke...