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Incorporation

Place of Effective Management Rules

by Sanjeev Archak Sanjeev Archak No Comments

The idea of Place of Effective Management or POEM was first introduced in the Finance Act 2015 for the purpose of determining the residential status of foreign businesses. As per the act, any business having its place of effective management in India will be considered as an Indian resident and accordingly, it’s global income will be taxable in India.17

But the Finance Act was missing the entire criteria and process for determining the place of effective management. For this purpose, the Central Board of Direct Taxes (CBDT) introduced the Guiding Principles for determination of Place of Effective Management (POEM) of a Company.

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What is the Startup India Project and How To Be a Part of It

by Sanjeev Archak Sanjeev Archak No Comments

The Startup India Project is an ambitious flagship initiative of the Government of India under our Prime Minister, Shri Narendra Modi. The whole purpose of this initiative is to empower startups and build a robust ecosystem by nurturing them to grow through innovation and design. This will, in turn, drive sustainable economic growth and bring in large-scale employment opportunities within the country.

“I see startups, technology, and innovation as exciting and effective instruments for India’s transformation.”
– Shri Narendra Modi, Prime Minister Of India

The project was first introduced by the prime minister on the 15th August 2015 while he was addressing the nation through his speech on the occasion of India’s 69th Independence Day. Read more