Tips For Doing Business In India


Globalization has made the business world come closer. No matter the country you intend to do business with, it is always beneficial to learn about the culture and how business is done.
With FDI being liberalized in a unique way, India has opened doors for the world to come and do business in India. Spectacular economic growth from the explosion of offshore outsourcing and manufacturing in India has created immense opportunities for investment and international commerce.


Whatever be the reasons, for an outsider trying to do business with us Indians, the journey can be both frustrating and entertaining (if you have a sense of humor). Companies from various countries come to India for business and seek registration for their representative companies or establishments of companies here.
The following tips will help you ensure that you maximize your opportunities for doing business in India:
  • Be aware of size and structure
  • Be clear and direct in communications
  • Understand the complex tax environment
  • Adopt a flexible approach
  • Take time to make friendly small talk at the start of a meeting
  • You can choose Delhi for your Indian headquarters/Choosing Delhi for HQ makes sense
  • Work harder for specific outcomes
  • Do your research ahead of time
  • Business often takes longer in India but do your best not to show frustration or anger
  • Cities aren’t the only places for opportunity
Understanding the small differences can prevent potential business partners being offended and helps build strong relationships. Considering and respecting the top tips for doing business in India above is the first step towards building effective relationships.
How to Ensure New Business Setup in India?
Types of business entities in India

If you are considering doing business in India contact the best Indian specialists: Ruchi Anand & Associates in India. Ruchi Anand & Associates is one of the top Chartered Accountant in Delhi(India). Always ready to help you out regarding all your queries(Click here): Contact Us

You have time till Saturday to file your tax returns, here's what you need to do?

How to prepare and file ITR completely online ?
You have time till Saturday to get all your tax papers in order. People with salary income who are eligible to use ITR 1 or ITR 4 form can file their tax return completely online via the income tax e-filing website without having to download any form/software.

Using this method, a person can fill the form online by entering the relevant information and finally submit it online as well.
This step by step guide will help you do the same.

1. Visit the e-filing website: https://incometaxindiaefiling.gov.in/

2. If you are a first time user or filing your returns for the first time then click on the 'New Registration' tab and register yourself by providing relevant details and creating your profile and password. While creating your user ID, you must ensure that you have an active e-mail id and mobile number and it is mentioned correctly.
It is important as communication by the department will be sent on this. Registration will be completed by clicking activation link sent via email and providing one-time password (OTP) received on the mobile. Click on the 'Registered user' if you have already registered yourself on the website. For any assistance, one can click on 'Customer care tab' to get the helpline number and call the customer care centre.
Tax Consultant in India

3. Next click on login tab and enter the required details: your user ID i.e. your PAN, password, date of birth (mentioned on the PAN card) and captcha code. Click on log-in button at the bottom to sign in.
Tax Advisor in India

4. After signing in, your account dashboard will open up as shown in the picture below. Click on the 'e-file' tab and select the 'Prepare and submit ITR online' option.

Online Tax Registration
5. Next, select the relevant form and assessment year for which the return has to be filed. Here taxpayer can pick his address either from the PAN database, from previously filed return or fill in new address. The department here asks you whether you want to digitally sign your return. If selected 'Yes', you are required to upload your signature which needs to be pre-registered at the income tax website.
ITR
6. Click on the 'Submit' button and the website will redirect you to the page for filling the form selected by you. Before starting to fill the ITR form, one should read the 'General Instructions' given at the start of the form to know do's and don'ts.

7. After that you will be asked to fill in required information in different tabs i.e. General information, Income details, Tax details and taxes paid in the ITR form. One should ensure that the Tax payable shown in the online form matches your calculations.

Tax Consultant in Delhi

8. Before making a final submission, it is advisable to save the data entered and recheck it to avoid any mistakes. Once 'Preview and Submit' button is clicked, your form will appear allowing you a preview of your ITR form before final submission is made.

9. Once the 'Submit' button is clicked, your ITR will be uploaded and you will be asked to verify your return using any of the options available.

10. If you have already registered your digital signature, you will be asked to upload the same while submitting your ITR at the final step. Once it is uploaded and submission has been made, process of ITR filing is completed and no further verification is needed. You will not be required to send acknowledgement/ITR V in physical to CPC, Bengaluru.

11. However, if you do not have/haven't uploaded the digital signature while filing the return, then you can verify your return either electronically using Aadhaar OTP or Electronic Verification Code method or by sending a signed print out of the ITR V to CPC, Bengaluru within 120 days from the date of e-filing.

12. An Acknowledgement/ ITR V will be simultaneously sent to you on your registered email ID once your return is successfully uploaded. This acknowledgement will also show up in your account on the e-filing website from where you can download it if required.

13. The department will process your ITR once you verify it. After your ITR is processed, you will be intimated about the same via mail and sms on your registered mobile number.
Original Source: http://bit.ly/2w92bX8

You may consult with the Tax Consultant in India/ Tax Advisor in India for any kind of help.