#RegulatoryComplianceforBusinessinIndia

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A liaison office in India refers to a branch or representative office set up by a foreign company within the country. Its primary aim is to facilitate communication and coordination between the foreign parent company and various stakeholders in India. 

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In the dynamic landscape of Indian business, the prospect of incorporating a company is an exciting yet complex endeavour. Understanding the intricacies of the process is crucial for entrepreneurs and businesses looking to establish a legal entity. 

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Every individual who is acting alone or together, or through  one or more persons or trust, including a trust and persons resident outside India, holds beneficial interests as may be prescribed in the shares of a company incorporated in India or a right to exercise, or the  actual exercise significant influence or control as defined under the Act over the company shall make a declaration to the company in FORM BEN-1, specifying the nature of his interest and other particulars, in such manner and within such period of acquisition of the beneficial interest or rights and any change thereof under Companies Act, 2013 ( as amended) and in turn, the company shall file e-form BEN-2 with ROC within 30days of receipt of e-form  BEN-1 from such person.

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Introduction In the Indian financial landscape, PAN (Permanent Account Number) cards are vital for taxpayers, including Non-Resident Indians (NRIs). Recent regulatory updates have linked the status of PAN cards to Aadhaar, and the discontinuation of this linkage has led to some PAN holders' status changing from "Active" to "Inoperative." Nevertheless, NRIs can still use their inoperative PANs to file Income Tax Returns (ITR). This article will guide NRIs through the process of rectifying the "inoperative" status of their PAN cards.

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As per the latest notification (No. 10/2023 central tax) issued by the Ministry of Finance, from 1st August 2023, businesses registered under GST and having a turnover of more than Rs. 5 Crore in any financial year from 2017-18 will be required to comply with the e-invoicing provisions. This means that they will have to generate an Invoice Reference Number (IRN) for each tax invoice, debit note, and credit note issued to registered persons.