Audit trail became a buzzword when the Ministry of Corporate Affairs (MCA) mandated companies to have an audit trail feature in accounting software. The concept was introduced by the MCA vide notification dated 24th March 2021. As per the said notification, it became mandatory for all the companies that use accounting software to maintain their...
The Delhi Government is actively promoting ease of doing business. In a recent move, they approved 70 reforms in Delhi across 16 departments in order to reduce the compliance burden on businesses and individuals and expedite the approvals for various government services. The various departments where the reforms have been approved include labour, revenue department,...
Companies are often required to liaison with the governmental authorities as well as understand the business scope in distant places. A good way to do so is to set up a liaison office in India. Liaison offices are also known as Representative Offices as it represents their parent company and carries out liaison activities. It...
Foreign companies sometimes incorporate an entity in India to execute a specific project. However, as soon as an entity gets incorporated, a series of legal compliances begin. Therefore, in order to facilitate such foreign companies to easily enter and exit India, the concept of a project office was introduced. What is a project office and...
Setting up a branch office in India is a common method for foreign companies to extend their business operations in India. Branch offices in India are usually established by foreign companies to explore the Indian markets without making any long-term commitment. But how to set up a branch office in India? What are the eligibility...
This article comprises income tax compliance calendar due dates for the month of August 2022 which might be subject to changes and extensions as and when notified by the Government. It also inculcates adhering to the due dates of GST return filing forms of GSTR 1, GSTR 3B, GSTR 4, GSTR 5, GSTR 6, GSTR 9,...
Intuit’s accounting solution QuickBooks will exit India in 2023. Intuit’s decision comes as a setback to multiple businesses that were dependent on QuickBooks for their accounting needs. Starting 1st July 2022, no new subscriptions to QuickBooks are accepted in India. However, the existing customers are allowed to continue using QuickBooks until 31st January 2023 which...
QuickBooks' exit from India has put its users in dilemma. Selecting an alternative to QuickBooks can be tricky considering multiple options available in the market. To ease your problems, we have compiled a list of major accounting software that can be a great substitute for QuickBooks in India. Let’s decode them! Accounting Software – Choosing the...
This article comprising of compliances and due dates for the month of July 2022 which is however subject to changes and notifications of extension as and when notified by the Government. The citizen and corporate must comply to the rules and regulations as per Indian law. The month of July, 2022 is crucial for the...
In India, owning a business comes with certain compliances which a corporate must comply before the due dates to ensure smooth operation of company. The citizen must comply to the rules and regulations as per the Indian law. June 2022 Compliance Calendar consist of several compliances’ due dates which the corporate and individual must meet...
The month of May 2022, is noteworthy for the due dates of various compliances under the GST, Income Tax Act, Companies Act, and LLP Act. Businesses or Individuals, having their operations are bound to adhere to the tax compliance. Filing the compliances on or before the due dates saves the taxpayers from penalties. However, the...
Income Tax Act, 1961 offers benefits under Section 36(1)(v) and Section 10(25)(iv) to claim deduction and exemption for gratuity. Section 36(1)(v) allows a deduction to employers for their contribution towards an approved gratuity fund under an irrevocable trust exclusively for the benefit of their employees. Also, under section 10(25)(iv), the act exempts the income received...
Financial scandals in a country highlight the loopholes that exist in the laws and regulations and the way they can be misused. The Satyam Scandal of 2009 highlighted the loopholes in the regulations at that point in time and eventually, this gave rise to Internal Financial Control (IFC). However, often confusion revolves around the difference...
Canada is one of the best places to start or expand your business. It becomes significantly easier to maintain business relations with the US than with other countries due to Canada’s geographic location. While startup Canada is a lucrative option, multiple modes are there for starting a business in Canada for foreigners like sole-proprietorship, partnership,...
Doing business in India is becoming a focal point for many international companies. With a significant contribution to global trade and economics, the rise in the Make in India initiative, India is moving faster than ever in becoming the manufacturing as well as a business hub for the world. There has been a paradigm shift...
PLI Scheme for Automobile Industry is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of ? 1.97 lakh crore. With the announcement of PLI Schemes for 13 sectors, minimum additional production in India is expected to be around ? 37.5 lakh crore...
Company incorporation in Singapore is a relatively simple process regulated by the Accounting and Corporate Regulatory Authority of Singapore (ACRA). As per the World Bank’s Doing Business 2020 Report, Singapore ranked 2nd in the world (Score: 86.2 out of 100) for doing business, with New Zealand leading the space (Score: 86.8 out of 100). No...
With the Government approving the Production Linked Incentive (PLI) Scheme for white goods (air conditioners and led lights). The tenure for the scheme is from FY 2021-2022 to FY 2027-28. The implementation period is the financial Year 2021-2022 to 2027-2028, and the incentives to begin from 2022-2027 with 1-year gestation period. The Budgetary Outlay for...
Introduction: After the success of the Production Linked Incentive Scheme in bringing investments in mobile phone (handsets and components) manufacturing, the Union Cabinet on 24 February 2021 has approved the Production Linked Incentive (PLI) Scheme for IT hardware products. The target IT hardware segments under the proposed Scheme include Laptops, Tablets, All-in-One Personal Computers (PCs), and Servers. The...
Amidst the global economic turmoil that emerged due to covid-19, the Indian economy cannot remain immune to its side-effects. Indian Government in an effort to boost the economy has announced a significant economic stimulus package under the ‘Atmanirbhar Bharat’ (Self-reliant India) scheme. Given that many global businesses operating in China are also reconsidering their business...
ASC Consulting Private Limited is registered in the Dun & Bradstreet Global Database and has been assigned the D&B D-U-N-S Number. This Number is a registered number of Dun & Bradstreet Corporation, USA. Dun & Bradstreet manages the world’s most valuable commercial database. They help the companies improve their business performance through data and insights delivered...
With the emerging technologies and digitalization of activities, the practice of outsourcing various support functions of business has seen an inclination in the recent past. One such outsourced activity has been the accounting and bookkeeping of small and medium-sized companies. Outsourcing is the process of delegating specific operations to a third party to capitalize on...
A 5% fall in the gross domestic product ( GDP) during 2020-21 may lead to a 15% decrease in Indian corporate revenues and present an "existential risk" to small businesses, a report stated on Monday. Similarly, the Reserve Bank of India ( RBI) and the finance ministry's policy interventions offer little promise because they can't...
The process of Company Registration in Singapore can be summarized in a very simplified process but before we move forward there are things that are to be kept in mind which can be termed as Essentials of Registration. They are as follows: ACRA approved Company Name Minimum Paid-Up Capital ($1 & Above) Local Resident as Director Local Registered Office...
LLP Settlement Scheme, 2020 is being introduced in order to provide a single-window to defaulting LLPs that have failed to abide by the statutory compliance window in the past. Applicability: The scheme shall be effective from March 16, 2020, till June 13, 2020. Defaulting LLPs are covered that are registered under the LLP Act, 2008 and have defaulted in...
Public Procurement Transactions - Public procurement worth Rs 40,000 crore has taken place through the government's online marketplace GeM, Expenditure Secretary T V Somanathan said on Monday. Stressing that the focus of public procurement system is on economy, rigour, fairness and transparency, he said the efficiency of procurement makes a big difference to the fiscal...
NEW DELHI : Eight startups became unicorns in the first nine months of the previous year, including BigBasket, Delhivery, Ola Electric, US-based SaaS firm Druva Software, US-headquartered Cloud-based software developer Icertis Software, gaming startup Dream11, healthcare startup CitiusTech and logistics startup Rivigo. According to data by YourStory Research on Indian startup ecosystem and January-September 2019 funding, investors...
MUMBAI : India’s startup ecosystem created a record nine unicorns in 2019, despite sentiments turning cautious in the December quarter, according to a report from startup data tracker Tracxn. Unicorns refer to privately-held companies with a valuation of a billion dollars or more. The billion-dollar club The billion-dollar club (Graphic by Sarvesh Kumar Sharma/Mint) Last year,...
Mergers and acquisitions is a process of bringing together two entities or assets and forming into one company by merging or acquiring. It aims to stimulate growth, gain competitive advantages, increase market share, influence supply chains, etc. However, there is a thin line between merger and acquisition. A merger is termed as uniting of two...
Profitable Businesses in India - India is a country with a huge potentiality and opportunity to explore and excel in a very short period. The opportunity also expanded with the emergence of digital India and skill India in recent times and by obtaining a record-breaking position within 3 years, from 130th position in 2016 to...
India is one of the best places in the world for entrepreneurs to incorporate a business having a democratic, geographic, and locational benefit. It consists of a young & strong workforce with huge potential in business that is a major attraction for entrepreneurs of Canada for India entry. Currently, India is one of the largest...
Ease of Doing Business - In the 2019 report, India had improved its rank on six out of the 10 parameters relating to starting and doing business in a country. India has moved 14 places to be 63rd among 190 nations in the World Bank’s ease of doing business ranking released on Thursday on the...
Rushing into Crypto Currencies - Many countries have cautioned against rushing into cryptocurrencies, Union Finance Minister Nirmala Sitharaman said on Sunday, as Facebook's proposed virtual currency Libra became a buzzword during the annual meeting of the International Monetary Fund and the World Bank. In fact, Reserve Bank of India Governor Shantikanta Das spoke about cryptocurrencies...
Mumbai: Voda Idea bond yield Jumps 43% - Vodafone IdeaNSE 1.59 % bond yields surged 42.91 per cent pulling prices down in a secondary market transaction on Wednesday as investors turned apprehensive over its financials. Normally, those bonds are traded in the 10-20 per cent yield range with limited secondary market transactions taking place. Bond...
Nirmala Sitharaman explained to international investors why India is the ideal place for investment in Washington: Investors can find "no better place" in the world than India, which has a democracy-loving and capitalist-respecting environment, Union Finance Minister Nirmala Sitharaman has said. She assured international investors at an interaction session at the IMF's headquarters that the...
Coupons are generally issued by Companies for gaining customer loyalty, sales promotion, redemption of accumulated points and increasing the value of a company. A coupon is a kind of voucher which is encashed for attaining economical discount or refund while buying goods. Coupons have become an integral part of sales and lead generation activity in...
M&A Advisory Service in India - Merger advisory is a panel of specialists to set up an articulated plan and an M&A strategy that strengthens that plan. After the analysis of the businesses’ financials and embracing an organization’s purposes, to deliver a set of cost-effective choices which also pave the approach for long term lucrative...
India has moved down 10 places to rank 68th on an annual global competitiveness index, largely due to improvements witnessed by several other economies, while Singapore has replaced the U.S. as the world’s most competitive economy. India, which was ranked 58th in the annual Global Competitiveness Index compiled by Geneva-based World Economic Forum (WEF), is among...
To bridge the gap between Asia and North America, ASC seeks to ascertain potential opportunities across the two continents; and envisions building a strong partnership to endorse holistic corporate growth for the future. Recognizing an opportunity is what it takes to grow your company in the right direction. We understand your company structure and its...
Business Consulting Firm in India - Medium and small scale industries require consultation on various aspects which is generally not demanded by large businesses. Medium-scale businesses need advice over matters that will be benefitting the company in its growth and increase in productivity. Consultants will guide you on how to manage difficulties and manage organizational...
Big Forbes Consultancy firms in India - Business Consultancies worldwide offer advisory to business over management, financial and legal issues of a company. We offer practical and implementable solutions to our clients, which apply to both large and small businesses, on how to enhance value from each industry within the Group. Services offered by Big...
Management Consulting Firm in India - Consulting firms worldwide assist businesses to set up their business and manage the operations of a company. It becomes a task for a business to find out the right location to work with the best facilities and better prices. Here come management consulting firms in a role which provide...
The US wants India to do away with price controls on medical devices such as coronary stents and knee implants with innovative features and keep them separate from mass products. NEW DELHI: India’s bilateral trade talks with the US will continue when commerce and industry minister Piyush Goyal meets US commerce secretary Wilbur Ross on...
Today, India appears to be the most attractive market for foreigners when it comes to ease of doing business or expanding the business. Emerging corporate houses to big corporate houses are all set up and preparing for India entry. According to the recent report, India is among the top 20 countries that have developed the...
Information technology is a new and fastest growing these days, it becomes very hard to strategize how to carry out business activities swiftly and smoothly. It becomes difficult to cope up with the latest changes brought into the industry but IT consulting firm let you grow your business and increase the productivity of your business....
Mergers and acquisition is the easy way to restructure your business where you can increase the growth and value of your business. Mergers let your company recover itself by amalgamation with other companies where the newly made company will run the business proficiently. To revive a company and to make its operations effective it is...
The Indian government has introduced five-year multiple-entry tourist and business visas for Emirati citizens, a top envoy said on Thursday. Indian Ambassador to the UAE Navdeep Singh Suri, while marking the 73rd Indian Independence Day at the Embassy in Abu Dhabi announced the new biometric system for visa applicants and the introduction of a new...
Modi, after delivering his sixth straight address to the nation on the Independence Day from the ramparts of the Red Fort here, went into brainstorming with Sitharaman and all top officials in her ministry. Prime Minister Narendra Modi on Thursday comprehensively reviewed the state of the economy with Finance Minister Nirmala Sitharaman as his government...
In recent years, India has observed a huge growth in the FDI investment from 16 billion in 2013-2014 to 37.36 billion in 2017-2018. India has now indorsed 100 percent FDI for both foreign retailers as well as the domestic market. As per IBEF, India’s retail market is anticipated to grow by 60 percent to increase...
Market changes can immensely affect your business to a great extent which might push your business toward high growth and also pull down in the market. The assurance about short-covering lifted benchmark indices and rate cut by Reserve Bank of India's Monetary Policy Committee on August 7. The BSE Sensex climbed 277.01 points to 36,976.85,...
Article 35A gave J&K government the right to decide who qualifies as a permanent resident of the state Only these individuals were allowed to acquire or own land, settle and seek government jobs in J&K region The Narendra Modi government on Monday scrapped Article 370 and Article 35A of the Indian Constitution which gave “special status" to...
Register a company in India can be done through Simplified Performa for Incorporating Company by electronic means (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34), is the default choice and most businesses are required to be registered through SPICe only. Any foreign company can establish its place of business in India by filing eForm FC-1 (Information...
If you have an excellent business idea and made up your mind to establish your business in India, think bigger and start now. However, before putting your plan in action, remember your success and failure depend on the company’s foundation, planning, set-up, and other internal and external factors. Many companies fail within the first 5...
Market entry offers many opportunities for new investors and also pave the door to several unknown risk. Our market entry services team is able to offer local knowledge regarding Indian regulatory, financial, taxation and commercial issues to help in identifying the opportunities and managing the risk. Our dedicated specialists can aid you through your Market...
Planning to set up business in India? First of all, you must do comprehensive research on the Indian market & its approach. As a matter of primary importance, choose a suitable name for your business and make it a legitimate entity. In case that the name shows signs of improvement, book a domain name under...
Research shows that between 60 percent and 90 percent of startup ventures globally fail just within the first 2 to 3 years of commencement. Varied reasons are attached to such failure which also differs from country to country. However, there are some entrepreneurs who have comprehensive knowledge and follow a certain procedure that helps them...
Starting a Business in Canada is the most favorable and promising country to achieve utmost success with minimum investment both for the startup and established entrepreneur. Business in Canada is a highly established and recognized industry for Canadian citizens as well as for Non-Canadian Residents considering their permanent resident status. Canada holds several advantages that...
Procurement is no longer a secondary, optional process. It gradually has risen to become a necessity for operational and business efficiency and has become a big part of an organisation’s initial framework. Procurement is now not ignored as an additional cost-saving and efficiency enhancing process but is THE way to move forward for growing and...
In the last decade, India has seen a huge increase in the number of start-ups. Now, this is could be owed to the Government’s shift in encouraging home talent or it could be the need to experiment and create new ideas for the younger generation. What once was considered an unconventional source of employment has today...
If you are starting a small business or a small business startup consulting services on a limited budget in Delhi, you have almost certainly spent some time trying to work out where you can cut business costs and do more on your own to draw out the funds you have available. One area you may...
Great ideas have the potential to make successful businesses but not all ideas culminate to businesses. For a business to become successful, it is very important to understand the market and gather audience insights. If a business doesn’t serve any need, eventually it will fade away irrespective of the unique idea behind it. The year...
In the midst of daily planning and annual targets, what businesses tend to ignore is the importance of the right financial and legal consultancy. Asset management, tax compliances, advisory are some of the key areas for any business. Whether it is large scale or medium scale business – all businesses require a comprehensive and well-thought...
4 business trends that are taking over 2018 India is in the midst of a massive transformational shift with a growing number of internet users who are not only aware of new developments but also demand changes according to their needs. Businesses across the world depend on client satisfaction for their sustenance and growth. The industry is...
Ask anyone in India, if they know about the impact of pollution and evolving technology to the environment, chances are that they will. In an effort to spread awareness about the ill effects of modern technology, new inventions and a world that is moving at an insatiable speed, we all tend to forget about the...
Establishing a Foreign Business in India Foreign Direct Investment of a country is the marker of the country’s growth across sectors. Financial, infrastructure, manufacturing, transport as well as other areas instantly receive a boost as foreign investments in a country rise. Gradually India has become a nurturing destination for new businesses and the position is just...
An essential exercise for every business Big or small; risk management is considered to be a crucial part of strategic planning. Spanning operational, financial, human resource and compliance verticals of a business, periodic audits keep one ahead of potential risks. According to established research papers and investigations, it has been observed that the biggest failures and frauds...
As the past couple of years witnessed a drop in data costs, WhatsApp has successfully replaced the traditional offline messaging service as the primary mode of text communication in India. Leveraging this fact, this messaging platform launched WhatsApp Business – the pilot for a dedicated mobile app exclusively for businesses – in early September 2017....
The fragile structure of the corporate sector is greatly influenced by external and internal factors. In the last decade, enterprise risk management has emerged as an effective method to mitigate potential risks as well as analyze existing risks of businesses. Industry experts, investors, and government bodies now pay attention to analysis and implement structured risk...
Top 10 Personal Finance Blogs in India - We have compiled a list of the best personal finance blogs in India that are doing great in blogging. If you want to become a successful blogger (Specifically for beginners) and want to learn & make money on your blog through blogging, then you all need to...
Constant growth is the driving force for any business. An evaluation process that analyses growth points and problem areas are imperative for any organization. What is slightly more important than an evaluative process is ‘change’. Change in accordance with market trends, design, customer satisfaction is crucial for the steady progress of all businesses. Here’s how you...
If you want to make sure that your cash should remain safe and secured, you better need to invest it somewhere properly and smartly. You have to analyse first before making any choice because there has to be some right investment opportunity for you to make. This can be an investment in any domain including stock...
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