Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TDS :: list of goods taxed at 4% :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
 
 
« News Headlines »
 Last minute checklist for filing income tax return
 Filing tax returns? Here are seven things to remember
 Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
 Mistakes in filing income tax returns that may get you a tax notice
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017

Best practices can take Indian business far
December, 07th 2007
Labour, tax reforms put in focus


New release: Mr Michael Klein, IFC Chief Economist, releasing a report on the CEOs panel on Doing Business in India 2008 in New Delhi on Thursday.

The private sector lending arm of the World Bank, International Finance Corporation, on Thursday said that India can greatly enhance its business environment if the best practices, currently prevalent only in some cities, can be replicated across the country.

India can jump 55 places if best regional practices, in ten business areas, are adopted nationwide, said Mr Michael Klein, Chief Economist, IFC, at a panel discussion on the Doing Business 2008 Report of the World Bank. India is currently ranked 120 in the Doing Business Index, up 12 places from 132 last year.

Domestic practices

The report pointed out that best domestic practices in the area of starting a business prevails in Jaipur, dealing with licences in Bhubaneshwar, registering property in Hyderabad, paying taxes in Bhubaneshwar and Chandigarh, trading across borders in Chennai, enforcing contracts in Bhubaneshwar and closing a business in Bangalore. These practices, if adopted by the entire nation, would significantly improve the business environment in India, he said.

Mr Klein further said that many countries have been focusing on the reforms relating to starting a business but were often found wanting in so far as taking up labour reforms were concerned for fear of political fallout. Tax reform, he said, was the second most popular reform agenda among nations as it helped the industry as well as the exchequer by increasing compliance and improving realisation.

Pointing out that reforms create growth potential and attract investments, Mr Klein said, China, India and Vietnam will keep reforming and create lot of business opportunities.

Enforcing contract

In the area of enforcing contract, India ranked 177 out of 178 nations, the Doing Business 2008 Report said, adding that it takes almost four years to resolve a commercial dispute through courts in Mumbai compared with slightly over a year in Shanghai. Similarly, it takes 10 years to go through bankruptcy cases here, as against less than two years in Shanghai.

According to the report, yet another area that required reform was property registration. It takes two months to transfer and costs 7.7 per cent of Indias gross national income. In China, it takes half the amount of time and cost, said the chief economist. To ease the business environment, he added, it was necessary to ensure that success of an entrepreneur depends on rules and not on personal contacts.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions