India: Accounting and Audit

You are one of the people responsible for ensuring that your company is compliant with regulatory requirements. You have the best compliance management solution in place.

Welcome back to our blog series on preparing for an assessment. In the previous blog, we explored what it takes for a business to prepare for an assessment.

Digging deep into documents is not just another task in a regulatory assessment – it is often the key to spotting hidden compliance gaps and avoiding risks that could slip through the cracks.

In today's fast-evolving global economy, outsourcing is no longer a reactive cost-saving measure — it's a proactive, strategic lever.

Read to understand the cost, speed, and talent benefits of outsourcing to India — and what your business could be missing

Invoice processing has always been a significant burden on companies. Not only from the perspective of manual labor, but also to actively avoid and ensure any payment leakages.

Legislation should be amended, if necessary, to ensure MNEs do not face undue hardship.

The threshold level of income exempt from tax is proposed to be raised from Rs: 50,000 to Rs: 1,00,000. The threshold level for women who have not attained the age of 65 is proposed at Rs: 1,25,000. This replaces the rebate allowable to women u/s 88 – C which now stands eliminated. The threshold level for senior citizens is proposed at Rs: 1,50,000. This replaces the rebate allowable to senior citizens u/s 88 – B which now stands eliminated

Novelty is one of the basic criteria of patentability, inventiveness and industrial applicability being the other two. If the use of a substance or a composition for a specified medical purpose is new, a claim in a patent application directed at this use will be considered as novel even if the same substance had previously been used in medicine for a different purpose.