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After incorporation, an Indian subsidiary must comply with several regulations:
Open a Bank Account: In the name of the subsidiary for business transactions.
Register for GST: Apply for Goods and Services Tax (GST) registration if applicable, based on the business activities.
Compliance with Additional Regulations: Depending on the business nature, comply with other regulations such as the Shops and Establishment Act, professional tax, employee provident fund, and other relevant laws.
Annual Filings: Submit annual returns and financial statements to the MCA as required by law.
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Indian Subsidiary?
A subsidiary company is one that is controlled and managed by another company, which can be either a parent company or a holding company.
What Compliance Regulations Apply to Indian Subsidiary Companies?
Ensuring the establishment of a legally sound and valid Indian subsidiary company necessitates strict adherence to specific regulatory requirements, including: 1: Foreign Exchange Management Act (FEMA): Foreign companies operating in India must meticulously comply with the laws and regulations governing foreign exchange, as stipulated by the Foreign Exchange Management Act, 1999. 2: Companies Act, 2013: All Indian subsidiary companies are obligated to adhere to the provisions outlined in the Companies Act, 2013, ensuring compliance with the statutory framework governing corporate entities. 3: Reserve Bank of India (RBI) Compliances: Indian subsidiary companies are subject to various foreign exchange management compliances mandated by the Reserve Bank of India (RBI), contributing to the overall regulatory landscape. 4: Income Tax Act, 1961: Annual filing of income tax returns is a mandatory requirement for Indian subsidiaries, with compliance under the provisions of the Income Tax Act, 1961. The current corporate tax rate in India stands at 25%. 5: Annual Returns: Companies are obligated to submit annual returns to both the Ministry of Corporate Affairs (MCA) and the Registrar of Companies, reinforcing transparency and adherence to regulatory standards. 6: SEBI (Listing Obligations and Disclosure Regulations): Should the subsidiary opt to list its securities on a stock exchange, strict compliance with the Securities and Exchange Board of India (SEBI) regulations, specifically the Listing Obligations and Disclosure Regulations, becomes imperative.
Who was the first Indian ruler who accepted subsidiary alliance offered by Lord wellesly in 1798?
The Nizam of Hyderabad was the first to enter into this alliance
How long does it typically take to register an Indian subsidiary online?
The registration of an Indian subsidiary online typically takes about 15-20 days, assuming all documents are in order and there are no discrepancies. The process can be expedited by ensuring that all required documents and forms are accurately completed and submitted promptly. However, the exact timeline can vary depending on the efficiency of the verification process and the workload of the Ministry of Corporate Affairs (MCA).
What is an Indian Subsidiary Company?
A sister company, also known as a subsidiary, is under the control of a parent company or holding company. The parent company possesses the authority to govern the subsidiary, whether partially or wholly. In India, the procedure for Indian Subsidiary Registration follows the guidelines of the Companies Act of 2013. As per this act, a subsidiary is characterized by a foreign corporate body or parent entity holding at least 50% of the total share capital. Essentially, the parent company wields substantial influence and control over the subsidiary.
What documents are required to file the incorporation application for an Indian subsidiary online?
The incorporation application for an Indian subsidiary requires the following documents: Memorandum of Association (MoA) and Articles of Association (AoA): Drafted and notarized. Proof of Registered Office Address: Such as a utility bill or rental agreement. Identity and Address Proof of Directors and Shareholders: Valid government-issued IDs and address proofs. Declaration by Directors: Stating their consent to act as directors. Copy of the Parent Company's Resolution: Authorizing the incorporation of the subsidiary in India.
Is There a Minimum Capital Requirement for Indian Subsidiary Registration?
No, India does not impose a minimum capital requirement for the registration of subsidiary companies, providing flexibility for businesses to determine their capital structure.
How did the Indian rulers lose their independence by singing the 'subsidiary alliance' with the british?
The subsidiary alliance was a diplomatic strategy employed by the British East India Company to gain control over Indian princely states. By signing this agreement, Indian rulers were compelled to accept British troops in their territories and relinquish their military autonomy, leading to a loss of sovereignty. Additionally, they were required to pay for the maintenance of these forces, further weakening their financial and political power. Ultimately, this system eroded their independence and facilitated British dominance over India.
First Indian ruler who accepted subsidiary alliance offered by lord wellesley in 1798?
Nizam of Hyderabad was the first to accept who accepted subsidiary alliance offered in 1978 by lord wellesly
The first Indian ruler who accepted subsidiary alliance offered by lord wellesley in 1798 was?
Nizam of Hyderabad
What are the benefits of registering a subsidiary in India?
The benefits of registering a subsidiary in India include: Limited Liability: The parent company's liability is limited to its investment in the subsidiary. Operational Flexibility: The subsidiary operates independently, allowing it to adapt to local market conditions. Tax Benefits: Subsidiaries can benefit from tax treaties and incentives offered by the Indian government. Ease of Repatriation: Profits earned by the subsidiary can be repatriated to the parent company.
Who was the first Indian ruler who joined the subsidiary alliance during the east India company rule?
Tipu sultan
