Income Tax : GST- the new tax regime is much talked about as a major tax reform. It is a comprehensive tax regime to be levied on manufacture, ...
Corporate Law : Insolvency and Bankruptcy Code, 2016 is to consolidate and amend the laws relating to reorganisation and insolvency resolution of ...
Fema / RBI : Only Indian companies were required to submit FLA returns to the RBI but as per the A. P. (DIR Series) Circular No. 22 Dated: Octo...
Fema / RBI : In the recent notification of Reserve Bank of India and to align with the Government of India’s startup initiative, it has been ...
Corporate Law : You may have noticed that not every startup can raise funds or attract investors; the reason is simple that a startup usually does...
GST- the new tax regime is much talked about as a major tax reform. It is a comprehensive tax regime to be levied on manufacture, sale and consumption of goods and services throughout India
Insolvency and Bankruptcy Code, 2016 is to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner.
Only Indian companies were required to submit FLA returns to the RBI but as per the A. P. (DIR Series) Circular No. 22 Dated: October 21, 2015 , all Limited Liabilities Partnerships (LLPs) in India which have received FDI and/or made FDI abroad (i.e. overseas investment) in the previous year(s) as well as in the current year, shall also submit the FLA return to the RBI in the same manner.
In the recent notification of Reserve Bank of India and to align with the Government of India’s startup initiative, it has been decided that an Indian startup* having an overseas subsidiary, may open a foreign currency account with a bank outside India for the purpose of:
You may have noticed that not every startup can raise funds or attract investors; the reason is simple that a startup usually doesn’t understand all that is involved in doing a business, be it a business plan or creating a marketing strategy or even the day to day compliance requirements. The current market analysis has also showed that many startups are not able to attract millions of investors or venture capitalist.
India has become the third largest base of technology start-ups in the world, according to the Economic Survey 2015-16. As a part of the Action plan announced by the Prime Minister of India, Shri Narendra Modi, the scheme for Startup Intellectual Property Protection (SIPP) was launched by the Government for enabling Start-Ups to protect their Intellectual Property Rights (IPRs).
In the Sixth Bi-Monthly Monetary Policy Statement for 2015-16 and the press release dated February 2, 2016, the Reserve Bank of India had highlighted the steps being taken with respect to the Government’s initiatives to promote ease of doing business and contribute to an eco-system conducive for growth of entrepreneurship, particularly in respect of the start-up enterprises.
Following the mention of startup friendly measures in its Sixth Bi-monthly Monetary Policy for the year 2015-16, Reserve Bank of India has clarified that the relaxations available to other businesses are applicable to startups as well. Following are the clarifications brought about by the RBI pursuant to the said monetary policy.
The Reserve Bank of India had issued Notification No. FEMA 20 /2000-RB dated 3rd May 2000 on Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000to prohibit, restrict or regulate, transfer or issue security by a person resident outside India.
Prime Minister Narendra Modi had announced the ‘Startup India, Standup India’ initiative on Independence Day the 15th Day of August, 2015. Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities.
