Traditionally, when an investor set-up a business in India, whether a liaison office, project office, branch or company, that business needed to comply with Indian regulations mandatorily. The last decade has been volatile, seeing the collapse of some of the largest companies on the global scenario, resulting in regulatory compliances being made more stringent worldwide. The ripples of a process started in the developed countries have in recent times has reached India as well, bringing regulatory compliance to the forefront.
The Indian accounting, tax and regulatory environment is a complex and bureaucratic one. Most start-up companies, irrespective of their size, face enormous challenges in their attempts to remain compliant on the accounting and regulatory fronts. It is mandatory for even small companies to have a statutory audit under the Companies Act, besides mandatory filing of Income Tax Returns and a plethora of other regulations to comply with. Further, constant amendments to the statutes and the strictures of law have made adherence to the various laws in force like the Companies Act, FEMA, judicial pronouncements, Auditing and Assurance Standards, Secretarial Standards, Accounting Standards etc. more complicated and stringent.
Companies attempting to achieve compliance on these multiple fronts are therefore faced with the difficult task of bringing together a team of experts and coordinating their services. This process generally proves to be as tiresome as it is expensive, while not always guaranteeing the elimination of compliance risks.
OliveTree provides appropriate consultation and services on accounting and taxation related matters for individuals and small and medium enterprises. Qualified consultants trained by our experienced professionals offer you peace of mind and the freedom to concentrate on your core business functions.
Regulatory Compliance in India includes: