Coinmen Consultants LLP
Based in New Delhi and Mumbai, Coinmen helps companies setup their businesses in India. Once a company is established, we undertake advisory services for tax structuring, business strategy, financial planning, and corporate law; as well as auditing and accounting services. We work with our clients from the initial project-bid planning stages and continue our support through the execution stages.
India’s Ministry Of Corporate Affairs To Hep Businesses By Offering Them A Fresh Start For Compliance Matters Amidst COVID-19 - Coinmen Consultants. Key Highlights The novel coronavirus (or COVID-19) pandemic has hit businesses across India, prompting steps to be taken by the Ministry of Corporate Affairs to help them via relaxations in regulatory compliancesIn our previous article, we highlighted a few of these steps taken by the Ministry (you can read it here); there have been further updates which are discussed below in this editionThe Ministry has provided relief to companies/LLPs by helping them with a scheme to start fresh on their compliance requirements, which seems to be a promising moveFurther clarifications have been made on video conferencing, important documentation and forms, as well as classifying CSR expenditure.
The Big Picture: Assessing The Impact Of The COVID-19 Pandemic On The Travel And Tourism Industry In India - Coinmen Consultants. Key Highlights With travel being the last thing on people’s minds, numbers will surely dwindle for international travel; but there might be a silver lining for the domestic leisure-travel segmentThe Government has extended a helping hand via moratoriums and tax policy changes, but industry sentiment says that more is required in terms of financial reliefOwed to the uncertainty of the pandemic, businesses can undertake alternate functions during the lockdown which were otherwise put on the backburner The travel and tourism industry in India is a major force, employing a large human capital and being a major source of revenue for various states.
Section 94B Of The Income Tax Act: What Are Its Problems And How Can It Be Amended To Help Foreign Companies Doing Business In India? - Coinmen Consultants. Overview And Theoretical Explanation Of Section 94B Of The Income Tax Act For any business organization, having the right mix of financing in debt and equity is of extreme importance.
Certain entities tend to become highly leveraged by having a thin capital structure, i.e., more debt over equity. In line with the BEPS (Base Erosion And Profit Shifting) Action Plan, 4, Thin Capitalization provisions were introduced through Section 94B of the Income Tax Act, 2017 in India, to disallow interest paid to foreign associated enterprises (AEs) in excess of 30% of Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) or interest paid or payable, whichever is lower.
Further, the proviso to section 94B provides that debt shall be deemed to be provided by AEs where such AE provides an implicit or explicit guarantee to the lender or deposits a corresponding and matching amount of funds with the lender. Practical Example To Explain Section 94B. Analyzing COVID-19 Impact On Businesses: Automation To Be The Way Forward For Most Industries? - Coinmen Consultants. Key Highlights COVID-19 is the burning topic, with its economic and industry impact now being realized by countries, especially IndiaAside from the relief packages by the World Bank and certain tax policy changes by the Government, there continues a desire to have a rethinking of the financial relief measuresWhile investment numbers can dwindle as other economies are getting impacted too, it is a continued belief that investor confidence in India as a business destination will be unaffectedOverall, the impact on most of the industries can carry a propensity to push on reforms in business models, including but not limited to automation It’s evident that the global economy will be affected by the novel coronavirus pandemic, and now revelations regarding its impact on emerging economies such as India are being realized as well.
The entire podcast has been shared on SoundCloud and you can access it here: Analyzing COVID-19 Impact On Businesses: Automation To Be The Way Forward For Most Industries? - Coinmen Consultants. The Impact Of The Coronavirus (COVID-19) Pandemic On The Manufacturing Sector In India And Looking At The Way Forward For Companies - Coinmen Consultants. Key Highlights India’s manufacturing sector is bound take a hit due to the coronavirus (COVID-19) pandemic, with every stakeholder (from top management to contractual labor) on the brunt endConsumer demand will further have an impact, as the sector will attempt to pick up production post the lockdown and attempt to stabilize and sustain via Government policies and relief measuresWhile there have been relief measures in terms of tax and compliance, financial relief is still desired by the industry as a whole to help the industryInvesting numbers in the manufacturing ecosystem might be affected, but the investor confidence might just retain owed to India’s business conducive manufacturing ecosystem.
Impact Of Coronavirus On Businesses In India In 2020: Why Financial And Tax Relief Is Important For Companies To Sustain - Coinmen Consultants. Key Highlights Unsurprisingly, the coronavirus pandemic has impacted the Indian economy, with SMEs and large corporations both at the receiving end of tough timesThis has provoked the Central Government to step in, but industry sentiment continues to show that more relief measures are desired from a tax-relief point of viewThe spread of the pandemic has hit various major sectors, especially the likes of manufacturing, consumer/retail market, spectator sports, entertainment, etc. in India, and financial policies will likely require a revisit to ensure a turnaroundAmidst all this, it’s also important to analyze how labor-intensive sectors can cope with the pandemic and the consequent lack of human capital during this phase, as the industry awaits strong Government intervention With the coronavirus pandemic impacting major countries of the world, India has been no exception.
Regardless, life must go on and business won’t stop. It might pause, but that’s pretty much it. Union Budget 2020 Tax Proposals. Union Budget 2020 Analysis – A Reality Check - Coinmen Consultants. Finally, the much-hyped Union Budget is out.
Did it disappoint? Yes, it sure did!