Legislation of India

Service packages Legislation Tax System Audit Services

List of laws and regulations

Act name
Scope of law
Companies
Limited liability partnership
Partnership
Chartered accountants
Company secretaries
Competition
Income tax
Wealth tax
Taxation
Your Consultant
Поиск консультанта...

Поиск консультанта...

Tax treaties entered

Albania
Armenia
Australia
Austria
Bangladesh
Belarus
Belgium
Bhutan
Botswana
Brazil
Bulgaria
Canada
China
Chinese Taipei (Taiwan)
Colombia
Croatia
Cyprus
Czech Republic
Denmark
Egypt
Estonia
Ethiopia
Fiji
Finland
France
Georgia
Germany
Greece
Hong Kong
Hungary
Iceland
Indonesia
Iran
Ireland
Israel
Italy
Japan
Jordan
Kazakhstan
Kenya
Republic of Korea
Kuwait
Kyrgyz Republic
Latvia
Libya
Lithuania
Luxembourg
Macedonia
Malaysia
Malta
Mauritius
Mexico
Mongolia
Montenegro
Morocco
Mozambique
Myanmar
Namibia
Nepal
Netherlands
New Zealand
Norway
Oman
Philippines
Poland
Portugal
Qatar
Romania
Russian Federation
Saudi Arabia
Serbia
Singapore
Slovak Republic
Slovenia
South Africa
Spain
Sri Lanka
Sudan
Sweden
Switzerland
Syria
Tajikistan
Tanzania
Thailand
Trinidad & Tobago
Turkey
Turkmenistan
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vietnam
Zambia

Tax Exchange Information Agreement (TEIA)

Argentina
Bahamas
Bahrain
Belize
Bermuda
Cayman Islands
Gibraltar
Guernsey
Isle of Man
Jersey
Liberia
Liechtenstein
Macao (China)
Maldives
Marshall Islands
Monaco
Saint Kitts and Nevis
San Marino
Seychelles
Virgin Islands (British)

List of state regulatory authorities

Ministry of External Affairs
Ministry of Corporate Affairs
Competition Commission of India
Indian Institute of Corporate Affairs
National Foundation for Coporate Governance
Institute of Chartered Accountants
Insitute of Company Secretaries
Income Tax Department
Authority for Advance Rulings

Corporate info

Legal system
Based on English common law
Types of entity
Sole Proprietorship; Partnership; Limited Liability Partnership; Private Limited Company; Public Limited Company; Joint Venture Company; Liaison Office/Representative Office; Project Office; Branch of a foreign company
Shelf companies permitted
Yes
Incorporation timescale for a new company
3-4 weeks
Company suffix
Private Limited
Sensitive words
Offensive or undesirable words in the opinion of Central Government; words giving the impression that the company is in any way connected with, or having the patronage of, the Central Government
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
Yes
Information to be kept at the registered office
Books of account, minutes of meetings, register of directors, register of shareholders, register of debenture-holders, register of any other security holders, register and index of beneficial owners
Seal required, type of seal
Yes, common seal
Redomiciliation (to, from) permitted
Not permitted

Director and secretary

Minimum number of directors
2
Residency requirements for directors
Yes (at least one director should stay in India for 182 days during the previous calendar year)
Corporate directors permitted
No
Directors’ meetings/frequency/location
Yes / 4 times a year / anywhere
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
2
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / at the city where the registered office is
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
100
Minimum issued share capital
100
Minimum paid share capital
100
Authorized capital payment deadlines
Within 30 days of registration
Issued capital payment deadlines
Within 30 days of registration
Standard currency
INR
Standard authorized share capital
100
Standard par value of shares
10
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
5-30%
Min. rate for corporate tax
25,17%
Corporate tax (in detail)
At the base rate of 22%, the effective rate, taking into account the additional tax and levies on medicine and education, will be 25.17%.
Capital gains tax
Regular rate
Capital gains tax. Details
VAT
18%
VAT. Details
Goods and Services Tax (GST) - similar to VAT. The tax is levied at the federal and state levels. Tax rates, as a rule, vary between 5% and 28%, the main rate is 18%
Withholding tax
20%/20%/10%
Other taxes
Social Contributions, Securities Tax, Property Tax
Exchange control
Yes
Government fee
Stamp duty
уплачивается при сделках с имуществом

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
Yes
Audit required
Yes

General information shortly

Location
Southern Asia, bordering the Arabian Sea and the Bay of Bengal, between Burma and Pakistan
Total area
3.287.263 sq.km
Population
1 408 297 000 (2022)
Capital
New Delhi
National currency
Indian rupee
Conditional reduction of currency
INR
Against USD
0,013 (2022)
Climate, average max and min t°
Varies from tropical monsoon in the south to temperate in the north; in the coldest season (from December to February) average minimum temperature is +6-10°С, average maximum temperature is +21-23°С; in the hottest season (May-June) average minimum temperature is +26-28°С, average maximum temperature is about +40°С
Time difference from Moscow
+ 2,5 hours
Dialing code
+91
State language
Hindi
Ethnic groups
Indo-Aryan 72%, Dravidian 25%, Mongoloid and other 3%
Literacy rate
71,2% (2019)
History
A number of independent states was formed in India by the 6th century B.C. Later there were founded the Indo-Greek, Indo-Skythians, Indo-Parthian Kingdoms, and Kushano-Sassanids Empire. Alexander the Great’s conquest of India lasted from 327 to 325 years B.C. There were several dynasties in different times and different regions of India. The period of the Gupta Empire in the 3rd century is called the Golden Age. India was under the Muslim rule in the 10th – 12th centuries. In the 16th century the European countries such as Portugal, Netherlands, France, and Great Britain started their colonization of Indian territories. Denmark, Austria, Sweden, and Prussia conquered just small territories. The British supremacy was established in 1765. India gained its independence in 1947. In three years it was proclaimed a Republic.
Credit rating
BBB-
Government type
Parliamentary republic
Executive branch
President, Vice-President, and the Council of MInisters headed by the Prime-Minister
Legislative branch
Bicameral Parliament: Council of States (250 members) and House of the People (545 members)
Judicial branch
Supreme Court, High Courts, and trial courts
Unemployment
7.8% (2022)
GDP per capita rank
133 (2020)
Corruption perceptions index rank
40 (2021)

Need a consultation from a specialist?
Share on social media:
RU EN