Académique Documents
Professionnel Documents
Culture Documents
In a country like India, where corruption is present in each of the states and
where the administrative procedures are incredibly long, it is important o know
the different places to report in order to prevent your company from loosing
additional Time. In opposition with my countries in the world; India doesn’t
welcome foreign companies & Investors, there are special rules, procedures &
taxes for them in order to give better chances to the Indian companies or
Workers. This list of barriers make it even more crucial to know where to go
because it is absolutely essential to be effective, fast and proactive in a
country where administration & procedures take time to process when it is
done if it is done with a good will. You can find below the list of Ministries,
departments and organizations which might get in your way along the road :
You can find a list of the necessary permits in the Annexes. Otherwise it is
essential to choose the type of society you want to create rapidly in order to
limit the administrative tasks but also to benefit of the appropriated
advantages & drawbacks linked to it. The companies available are the :
- Private Limited Company.
- Public Limited Company.
- Unlimited Company;
- Partnership.
- Sole Proprietorship.
Limited companies are the most common forms of company in India and it
seems to be the most appropriate form in order to create our resort in Kerala.
Limited companies can either be private or public and comport many
advantages. You can find below some of its advantages :
- Managers and shareholders are only financially responsible on the money
they invested on the society and not on their personal belongings.
- Its actions are simplified which is coming from its definition in terms of
responsibilities & direction structure which can be modified easily without
having to set up many administrative procedures
- The increase of capital can be done by an increase of the number of shares
sold to private investors. Investors are easily removable for any reasons
without affecting the company’s work or structure in a damageable way.
- The Company, its departments or its shares are easy to manage and can be at
disposition with ease which is coming from the company’s high flexible status.
The first thing to do is to get the authorization for the company’s name by
filling the form N°1 and directly apply to the registration of Companies Kerala’s
department where they will take the registration’s decision. Here are the
needed elements which needs to be present :
- A list of 4 different denomination for the company to create in relation with
the company’s object.
- The list of the creator’s coordinates with a minimum of 2.
- Capital of limited Company created
- Definition and aim of the company
Then the department will start the company’s registration and study and will
send to the company in creation its decision within 10 days
Many documents are necessary in order for the company to be created through
the Registration of Commerce department :
- MOA & AOA : Signed by the creators themselves in 4 copies and with the
presence of a witness including the creator’s name, their father’s name, their
personal address, sector of activity and their personal aport into the company.
- Form N°1 must be filled & signed by one of the managers on an INR20
Document.
- Form N°18 Needs to be signed by one of the investors creating the Limited
company to inform the registering department of the company’s creation
- Form N°29 which is a document containing the agreement of all the investors
creating the company in order to be managers (It is not obligatory if it is
private).
- Form N°32 Filled by one of the managers and dealing with the set up of the
board of directors including the managers present into it at a specific date.
- The letter approving the name of the company.
- Letter signer by all the shareholders giving the power to one of them to
implement actions for the company on their name.
RAW MATERIALS
Cement 50 Kg 8.11 150
Wood (not for structure) 3m x 30cm x 10.40 80
1.5cm
Bamboo 3m x 15cm 7.16 100
Sand 50kg 20.25 50
Mixing Water 5 Liters 0.86 100
STEEL MATERIALS
Junction Boxes & Frames Multiple size €17 40
needed
Reinforced Plastic junction Multiple size €21 40
boxes needed
Reinforced Steel & Epoxy Multiple size €29 45
Coaters needed
Steel Wire Fabric Made on €54 5
Measure
Metal Deck Forms Made on €22 30
Measure
Mechanical Slice System Made on €1,200 2
Measure
Fabricated Structural Steel Made on €13 120
Measure
Structural Steel Shape & Package/Kit €15 70
Plate
Steel pipe Couplings & 2m x 5cm €17 50
Fittings
PIPE
Cement pipe : Plain & 2m x 25cm by €63 9
Reinforced 10
Corrugated Steel Pipe 2m x 13cm by €52 9 468
10
Coated Galvanized Steel 2m x 13cm by €56 9 504
pipe 10
Thermoplastic Pipes 2.5m x 10cm by €117 10 1170
20
ADDITIONAL ITEMS
Small Articles (nails, ....) - - 5000
Machines Renting + Tools 20000
Plants & Animals 8000
Stocking, Broken & Stolen 7300
articles
TOTAL CONSTRUCTION - - 122,79
COSTS
7
After studying the cost of water consumption for our resort, It seemed primordial to
calculate the electricity consumption costs of our resort in order to have a better idea
of the charges inherent to an resort management in construction. Thanks to the table
below and to the average consumption of other actors of the industry, we will be able
to forecast our future electricity consumption and integrate it in our running costs. In
order to provide electricity to the whole resort, it seems more judicious to select the
36 kVA power subscription to be sure to have enough power for the whole resort’s
needs in energy.
Total : 1061 Kw consumed per day in the whole Resort for an average of 16 H 24
per day which equals to 65.25 €/day or to 1 990.16 € per month. For the 9
month of construction the total cost of electricity will be equal to 17 911.44 €
c. Total Costs
The total cost of the construction materials, energy & water consumed over the
9 month of construction to build our resort is equals to 113 296.44€.
DryCleaner 2 389
DrySet Vacuum Unit 1 850
Laundry Press (sleeves, 2 530
Collars,...)
Washing Machine 2 279
Floor Cleaning Devise 1 794
Vacuum Cleaner 7 199
Odor Free Device ( tobacco, 1 439
Perfume, ...)
TOTAL -
One of the first thing to say about the Indian taxes is that just like many other
countries over the world India signed the treaty for prevention of double
taxation. It prevents a company paying taxes in a specific country to pay the
same taxes in another country who signed the treaty.
One of the other main advantages is the access to tax breaks in specific
domains such as interests on loan, royalties, dividend, some capital gains and
in fact any other financial transaction implying protagonist linked to countries
which are involved in the prevention of double taxation.
In fact, this treaty can be a real benefit for foreign companies wishing to
establish on the Indian soil. Here are the different taxes we might have to deal
with as a company whether we are an Indian or a foreign company :
As a company we have to pay taxes on the business income (Section 28), like
every company we will have some costs linked to the business activity just like
business travels, cellphone contract, maintenance bills, entertainment
expenses, ... These costs will be deductible from our income which will be used
for the taxation amount calculation. These expenses inherent to the business
practice are listed in the Section 30 & 43D. There also other deductible
elements which are present in other sections of this chapter such as the
section 44 to 44DA with the exception of the sections 44AA, 44AB and 44C. The
different computable elements present in the chapter are listed below.
- Computable expenses - Article 30 until 38 (without the 37-2)
- Inadmissible Expenses - Article 37.2, 40, 40A, 43B and 44.C
- Deemed Revenues - Articles 33AB, 33ABA, 33AC, 35A, 35ABB and 41
- Special Provisions - Articles 42 and 43D
- Self Coded deductions - Articles 44, 44A, 44AD, 44AE, 44AF, 44B, 44BB,
44BBA, 44BBB, 44.D and 44-DA
In order to have access to these deductions, it is necessary to have an account
book where everything is registered and calculated. Not using an account book
is possible and doesn’t disable the company’s access to deductions but it is
better in order to keep track of daily expenses and gains and help in order to
know the financial estate of the company
The corporate income tax is different whether you are an indian company or
not. Indian Companies have an income taxed at a rate of 30% linked to a
possible increase of 7.5% depending on the turnover of the company. If it
exceeds 10 Million Rupees, the indian company will have to pay the surcharge.
The case of Non-Indian companies is different, they automatically pay 40% of
their income. The Education tax represents 3% on the income tax but also on
the surcharge if the company is eligible to it. The companies yielding effective
tax rates represents 33.2175% for domestic companies & 41.2% for foreign
companies.
- Tax Penalties :
http://en.wikipedia.org/wiki/Income_tax_in_India#cite_note-9
"If the Assessing Officer or the Commissioner (Appeals) or the Commissioner in
the course of any proceedings under this Act, is satisfied that any person-
(b) has failed to comply with a notice under sub-section (1) of section 142 or
sub-section (2) of section 143 or fails to comply with a direction issued under
sub-section (2A) of section 142, or
(c) has concealed the particulars of his income or furnished inaccurate
particulars of such income,
he may direct that such person shall pay by way of penalty,-
(ii) in the cases referred to in clause (b), in addition to any tax payable by him,
a sum of ten thousand rupees for each such failure;
(iii) in the cases referred to in clause (c), in addition to any tax payable by him,
a sum which shall not be less than, but which shall not exceed three times, the
amount of tax sought to be evaded by reason of the concealment of particulars
of his income or the furnishing of inaccurate particulars of such income.”
The gain of Capital is taxable whether you are a company or a citizen. Capital
Gains can be two kinds, long term or short term Capital Gains
b. Corruption :
- Land Accessibility Corruption :
The different ways to access to what you need are listed here depending on the
population thought. 77% of the population think that the alternate solution to
get the work done is to pay more and only 48% think that additional efforts are
necessary. It shows how deeply corruption is integrated in the population
culture & mind
Here are listed the types of electrical work for which bribes are usually paid.
26% wish to correct their bills, 25% desires a new connection and 11% are
looking to repair their system. In a way it is unbelievable to have to pay to get
all these service and even more for a line reparation which shouldn’t initiate
bribery because without it you can’t consume and thus the company can’t earn
money. Corruption seems to be present in every aspect of the Indian population
life which makes it hard to change without a strict and complete modification of
the society
- Income taxation Department Corruption :
Corruption is now more a cultural problem in India which can be linked to the
poorness of the country. The fact that it is perceived as increasing can be a
result of the crisis. We will have to deal with corruption in the set up of our
project because all departments seems to be corrupted and we will need work
to be done on time and we won’t have the time to wait. In order to find
corruption in India, Structural and cultural modifications will needs to be done,
the economical growth of the country will also help because it might reduce
poverty and at the same time reduce the need for bribery. But it will be harder
than that because bribery is not only a need, it is now included in the culture,
in the way of working but most importantly in the way of living your everyday
life.
C. BUILDING PERMIT :
It is too big to be in the report, if you wish to see it there is a usb key at your
disposition, please just ask it in class.
L. BATHROOM PLAN :
M. KITCHEN’S PLAN :
N. VILLA’S PLAN :