Topic Routine functions won’t make MNCs liable to pay Indian tax

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India’s apex direct taxes body has clarified that routine administrative functions carried out from a regional outfit of a multinational company, including handling of payroll, accounting and human resources, will not make it liable to tax on income earned outside the country. The move addresses a key concern of multinationals. There had been concerns that multinationals having regional offices in India where employees handle various administrative functions for multiple  countries…

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Restriction on Number of Layers of Subsidiaries under Companies Act, 2013

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In order to check misuse of multiple layers of subsidiaries for diversion of funds and siphoning off funds, the Companies Act, 2013 (2013 Act): a) Prohibits prescribed holding companies from having layers of subsidiaries beyond prescribed numbers b) Requires that no investments can be made through more than two layers of investment companies. These provisions were sought to be omitted from the 2013 Act on the recommendation of the Companies…

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Start and Get Up – Startups

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When we dream about an idea then it’s a time to start up and living that dream. The Government has launched its flagship program ‘Startup India” in January 2016 an initiative which intends to fulfil millions such dreams of young entrepreneurs. It aimed at promoting entrepreneurship by nurturing, mentoring and facilitating young entrepreneurs. Today people have multiple innovative ideas but same needs to complimented with right infrastructure, business plans and…

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