Daksham 2nd Issue Dt. 01.10.2012 by SaqibAnsari1


									                                                                       The Perfectionist . . . . !
                A professional initiative by EverNote Consultants

1) From the Editorial Team
2) A Professional Degree and a Business Mind !
3) Innovative Thinking – A solution finder !
4) Learn Legal Terminology
5) Powerful Leadership
6) XBRL – What’s it all about?
7) How they broke our Vedic Backbone?
8) Foreign Direct Investment in Retail and
    Civil Aviation

9) Good and Service Tax – Highlights
10) Doing business in India – A Synopsis

  ............................................................... ..................................

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Daksham . . . . .the perfectionist !                                                                 EverNote CONSULTANTS

      From the Editorial Team

At the outset, We want to Thank You for the overwhelming response
                                                                                                Did you know?
that you gave to the introductory issue of Daksham, published on                              36% of NASA employees
01.07.2012. Being a quarterly issue, we must admit that We fervently                           are Indians.
waited for 01.10.2012, for our next interaction with the readers.                             34% of Microsoft employees
                                                                                               are Indians.
We are happy to be back !                                                                     38% of doctors and 12%
                                                                                               scientists in America are
Meanwhile you would be excited to know that Team Daksham, as a                                 Indians.
part of its expansion drive, is now also available on social media and                        28% of IBM employees are
you          can       connect         &        like        us       at                        Indians.
www.facebook.com/evernoteconsultants. This is a forum where all                               17% of Intel employees are
readers (whether registered or not) may post queries / comments /                              Indians.
suggestions and our Study Group Experts would be happy to reply
to them.

Further, We have created a readily available reservoir of knowledge
by way of a Blog : daksham.blogspot.in where complete Current-
Issue as well as archived articles can also be accessed by the readers.

Knowledge for all, Knowledge by all was iterated in our previous issue of
Daksham and we are ecstatic to note the amount of knowledge-
sharing already been done at our social workplaces and also through
our emails.

Being an open-source newsletter, We depend upon the time, effort
and research of our Experts to cater to the needs of our readers. We
take this opportunity to extent our Thanks to our Study Group
Experts without whom this concept would not have been possible.
We look forward to your continued patronage.

We hope that this innovative knowledge sharing concept that cuts
across various professional fields would continue to expand with our
every publication. The importance of this concept is aptly
summarised by Benjamin Franklin - An investment in knowledge pays                                   2nd      October
the best interest.
Happy Reading!!                                                                     Click here to join Study Groups

  The views and opinions expressed or implied in Daksham are those of the authors and do not necessarily reflect those of EverNote
  Consultants or Daksham Editorial Board. Unsolicited articles and transparencies are sent-in at the owner’s risk and we accept no
  liability for loss or damage, in whatsoever circumstances and of any nature or form.
  All rights reserved with the EverNote Consultants. No part of this newsletter may be reproduced in any manner whatsoever
  without permission in writing of the Editorial Board.

Daksham . . . . .the perfectionist !                                                            EverNote CONSULTANTS

A Professional Degree and a Business Mind !
                                                                           By Personality Development Study Group
  A person standing outside a skyscraper on a busy
  street of Delhi, perplexingly looks up to find his
  Chartered Accountant’s Office. But all he finds are
  big, flashy and colourful billboards and banners
  with advertisements from all sorts of Companies.
  Only after putting on his glasses and with a
  scrutinising eye does he find a small, simple
  display board stating – “M/s ABCD and Company,
  Chartered Accountants” !

  Somehow he reaches the office & the first question he asks his CA is – Why don’t you put up a bigger,
  flashier board to locate you easily?

  Chartered Accountants, as most other professional practising their profession, are bound by limitations and
  restriction in advertisements imposed by Code of Ethics. Have you ever wondered Why?

  This is so because it is expected that Professional degree holders should work in pull-mode rather than
  push-mode, wherein their clients should approach them for getting the work done rather than the other
  way round.

  In such a case it is very difficult for young professionals to establish themselves. Here are some of the
  methods which professionals may use to market themselves :

   1. Advise your corporate clients but learn professionalism in return from them, since they generally have more
      organised system of work flow than a small CA office.
   2. Add on more skills in addition to your professional degree. You may have expert knowledge but lack the
      skill of publically sharing it. If so, then learn the art of speaking and presentation from someone who is an
      expert in this field.
   3. Have a dedicated person in your team to socialise and cater to special needs of the client. There is pending
      official work but there is a corporate social gathering exactly at the same time, potentially to earn new clients.
      Having a specialised Public Relation professional may come to your rescue at this time.
   4. Do more than what is expected but less than what is not allowable. You are required to make a statutory
      audit report, put in some more hard work and prepare a complimentary additional report pointing out other
      anomalies to your Client.
   5. If you commit then perform the work at any cost. There is no alternative to genuine hard work. Every
      deadline that you meet does make a positive impact.
   6. Appreciate results and rewards. Employees and colleagues are your assets and should be treated carefully
      and with positive demeanour.
   7. Always have a vision. There is no alternative to planning. Make a long-term as well as a short-term plan with
      a clear vision and also communicate it clearly to all in the organisation.
   8. Learn best-practices. Set benchmarks of performance on the basis of Industry norms and improve your

   A typical young Chartered Accountant generally develops, on the basis of his training, a negative approach
   of finding errors in Client’s work (though this is needed during auditing) but it should also be kept in mind
   that such negative thinking should not hinder him from thinking positively about other aspects of work !

Daksham . . . . .the perfectionist !                                                            EverNote CONSULTANTS

  Innovative Thinking –                          A Solution Finder !                              By CA Kamna Ladwani
 We all have heard the story of the Race between Tortoise and
                                                                                The Contributor is a member of ICAI and
 the Hare, which taught us; that slow and steady wins the race.
                                                                                subscriber to Auditing Study Group of
 But today let’s imagine ourselves to be either that hare or that
 tortoise and relearn the moral of the story !                                  Daksham. She can be reached at
 Read this article; great tips of Marketing and Professional                    kamnaladwani@hotmail.com
 Development tips to be learnt !

 The new version of the story:-
 The Hare was disappointed at losing the race and he did some
 Defect Prevention (Root Cause Analysis). He realised that he’d
 lost the race only because he had been overconfident and
 careless. If he had not taken things for granted, there’s no way
 the tortoise could have beaten him. So he challenged the
 tortoise to another race. The tortoise agreed. This time, the hare
 went all out and ran without stopping from start to finish. He
 won by several miles.

    MORAL – “Fast” and “Consistent” always beat the slow and the steady. If you have two people in your
    organization, one slow, methodical and reliable and the other fast and still reliable then the fast and the reliable
    one will consistently climb the organizational ladder faster that the slow person. It’s good to be slow and steady
    but it’s better to be fast and reliable !

   But the story doesn’t end here.
   The tortoise did some thinking this time, and realised that there’s no way he can beat the hare in a
   race the way it was currently formatted. He thought for a while, and then challenged the hare to
   another race, but on a slightly different route. The hare agreed. They started off. In keeping with his
   self-made commitment to be consistently fast, the hare took off and ran at top speed until he came
   to a broad river. The finishing line was a couple of kilometres on the other side of the river. The
   hare sat there wondering what to do. In the meantime the tortoise trundled along, got into the
   river, swam to the opposite bank, continued walking and finished the race.

    MORAL – First identify your Core Competency and then change the playing field to suit your core
    competency. In an organization, if you are a good speaker make sure that you create opportunities to give
    presentations that enable the senior management to notice you. Working to your strengths will not only get
    you noticed but will also create opportunities for growth and advancements.

     The story still hasn’t ended.      Interested in reading more? Go to page 10 of this Newsletter.

   Learn LEGAL TERMINOLOGY :                               Contributed by the Legal and Allied Laws Study Group

    Ad ea quae frequentius acciduunt jura adaptantur - Laws are adapted to those cases which occur more
    Argumentum ab auctoritate fortissimum est in lege- An argument drawn from authority is the strongest in law.
    Causa proxima, non remota spectator- The immediate, and not the remote cause is to be considered.
    Crescente malitia crescere debet et poena- Vice increasing, punishment ought also to increase.

Daksham . . . . .the perfectionist !                                                           EverNote CONSULTANTS

                                                 By CA Mansi Sharma
                                                                                Apply it yourself :
                                                                            1. Go through each of the power
 You have just completed your professional degree. You have an                 bases, and write down WHEN
 envious job with an excellent salary coupled with an enhanced                 and HOW you've used that
 status in the society. You have big dreams but now PAUSE and
                                                                               source of power in the past.
 THINK . . . . . . . .
                                                                            2. Ask yourself if you used the
 You are successful a financial professional and will soon be in a             power appropriately, consider the
 Leadership position but are you a “powerful leader”? Do you have              expected      and     unexpected
 it in you to become a charismatic Leader in future? You often                 consequences of it, and decide
 find that you are working hard yet your colleagues get all the                what you'll do differently next
 appreciation and the reward.                                                  time.
                                                                            3. THINK about the people who
 If any of your answers is Yes, then this article is for YOU !
                                                                               have power and influence over
 Leadership and Power.                                                         you. What sources of power do
                                                                               they use? Do they use their
 Leadership and power are closely linked. People tend to follow
                                                                               power appropriately? Where
 those who are powerful. And because others follow, the person
                                                                               necessary, develop a strategy to
 with power leads. But leaders have power for different reasons.
 Some are powerful because they alone have the ability to give                 reduce someone else's use of
 you a bonus or a raise. Others are powerful because they can                  illegitimate power over you.
 fire you, or assign you tasks you don't like. Yet, while leaders of        4. When you feel powerless or
 this type have formal, official power, their teams are unlikely to            overly influenced, stop and think
 be enthusiastic about their approach to leadership, if these                  about what you can do to regain
 are all they rely on.                                                         your own power and control.

 On the more positive side, leaders may have power because they're experts in their fields, or because their
 team members admire them. People with these types of power don't necessarily have formal leadership
 roles, but they influence others effectively because of their skills and personal qualities. And when a
 leadership position opens up, they'll probably be the first to be considered for promotion.
 One of the most notable studies on power was conducted by social                 Anyone is capable of holding power and
 psychologists John French and Bertram Raven in 1959. They identified             influencing others: you don't need to have
                                                                                  an important job title or a big office. But if
                                                                                  you recognize the different forms of power,
                                                                                  you can avoid being influenced by those
 1. LEGITIMATE - This comes from the belief that a person has the right to
                                                                                  who use the less effective types of power -
    make demands, and expect compliance and obedience from others.                and you can focus on developing expert and
 2. REWARD - This results from one person's ability to compensate another for     referent power for yourself. This will help
    compliance.                                                                   you become an influential and positive
 3. EXPERT - This is based on a person's superior skill and knowledge.            leader.
 4. REFERENT - This is the result of a person's perceived attractiveness,
    worthiness, and right to respect from others.                                  Contributor is a member of ICAI and an
 5. COERCIVE - This comes from the belief that a person can punish others for      Expert      of      the    Professional
    noncompliance.                                                                 Development Study Group of Daksham.
                                                                                   She     can      be     contacted    at
  Interested in Reading more? Click here to know about bases of Power.

Daksham . . . . .the perfectionist !                                                                          EverNote CONSULTANTS

  XBRL – WHAT’S IT ALL ABOUT                                                      – By CA Kamal Garg
  XBRL – a language for electronic communication:             How do companies create statements in XBRL:
                                                              XBRL-aware accounting software products are
  XBRL is a language for the electronic communication
                                                              becoming available which will support the export of
  of business and financial data which is revolutionising
                                                              data in XBRL form. These tools allow users to map
  business reporting around the world.
                                                              charts of accounts and other structures to XBRL tags.
  It provides major benefits in the preparation, analysis     Statements can be mapped into XBRL using XBRL
  and communication of business information. It offers        software tools designed for this purpose. Data from
  cost savings, greater efficiency and improved               accounting databases can be extracted in XBRL
  accuracy and reliability to all those involved in           format. It is not strictly necessary for an accounting
  supplying or using financial data. It is an open            software vendor to use XBRL; third party products can
  standard, free of licence fees, being developed by a        achieve the transformation of the data to XBRL.
  non-profit making international consortium.                 Applications can transform data in particular formats
  This article endeavours to provide detailed                 into XBRL. For example, web sites are in operation
                                                              that can transform filings into XBRL format The route
  information on XBRL, its technical features and its
  business opportunities.                                     which an individual company may take will depend on
                                                              its requirements and the accounting software and
  XBRL does not cause a change in accounting                  systems it currently uses, among other factors.
  standards: XBRL is simply a language for
                                                              XBRL (eXtensible Business Reporting Language) is
  transmitting information. It must accurately reflect
  data reported under different standards – it does not       a freely available, market-driven, open, and global
                                                              standard for exchanging business information. XBRL
  change them.
                                                              allows information modelling and the expression of
  Potential uses of XBRL: XBRL can be applied to a            semantic meaning commonly required in business
  very wide range of business and financial                   reporting. XBRL is XML-based. It uses the XML
  data. Among other things, it can handle:                    syntax and related XML technologies such as XML
          Company internal and external financial            Schema, XLink, XPath, and Namespaces to articulate
           reporting.                                         this semantic meaning. One use of XBRL is to define
                                                              and exchange financial information, such as a financial
          Business reporting to all types of regulators,     statement. The XBRL Specification is developed and
           including tax and financial authorities, central   published by XBRL International, Inc. (XII).
           banks and governments.
                                                              Interested in reading more? Click here for complete article &
          Filing of loan reports and applications; credit    Technical side of XBRL.
           risk assessments.
          Exchange        of     information   between
           government departments or between other
           institutions, such as central banks.
                                                                  The author is the Fellow Member of ICAI. He is
          Authoritative    accounting  literature  –
                                                                  engaged in IFRS – Audit and Advisory, FEMA,
           providing a standard way of describing
                                                                  Valuation and XBRL Services. He can be approached
           accounting      documents   provided    by
           authoritative bodies.                                  at cakamalgarg@gmail.com.

Daksham . . . . .the perfectionist !                                                                EverNote CONSULTANTS

How they broke our
Vedic BackBone By CA Gandharv Sharma
“I am an English speaking person & I feel proud to
be one” isn’t this is a common statement that you
hear frequently these days? People feel proud to talk
in English and sometimes even ignore and feel shy
to talk in their mother tongue.

But the truth is that there are 200+ countries but in
only 12 countries of the world; English is the main
language; other 182 countries have got their own
different mother tongue. So how can English be
our International language?

 Also English language has copied most of the words from other languages; it has hardly got its own original
 words. English language got 12,000 words half of it has been copied from other languages.

 Whereas on the other hand, Hindi language got the maximum words 75,000 +, Marathi language got 48,000 +,
 Gujarati language got 40,000 +, Telugu, Kannada, Punjabi, etc. are our mother tongue & we shall be proud of our
 mother tongue, further, it is hard to count the number of words in Sanskrit or Tamil, which are the roots of all
 other languages.
 There were more than 1,50,000 Vedic Colleges (Higher Learning Institute) in Madras, this was proved in a survey
 in 1835, & the number of villages were 1,57,000 according the British Survey & Revenue reports, all these colleges
 were mainly for surgery & 1,500 colleges for M.Sc. degree (which is an English term which was something else
 those days), politics, arts etc.

 According to 1835 survey, Lord McCauley said we should break the back bone of Bharata by removing Vedic
 education system & introducing English education to de-motivate this country (View the picture)
     Interested in reading more? Click here for full article.             Contributor is a member of ICAI, and a Secretary cum
                                                                          Expert of the Religious and Mythological Study Group of

 So is it time to learn Sanskrit again?
                                                                          Daksham. He can be approached at caswamiji@gmail.com

    About 97% of world languages have been directly or indirectly influenced by Sanskrit. (Ref: UNO).

    Sanskrit is the best computer friendly language. (Ref: Forbes Magazine July 1987). NASA scientist reports that America is
     creating 6th and 7th generation super computers based on Sanskrit language.

    The language is rich in most advanced science, contained in their books called Vedas, Upanishads, Shruti, Smriti, Puranas,
     Mahabharata, Ramayana etc.(Ref: Russian State University, NASA has 60,000 palm leaf manuscripts, which they are studying.)

    James Junior School, London, has made Sanskrit compulsory.

    Research has shown that the phonetics of this language has roots in various energy points of the body and reading, speaking
     or reciting Sanskrit stimulates these points and raises the energy levels.

    Sanskrit is the only language, which uses all the nerves of the tongue. By its pronunciation energy points in the body are
     activated that causes the blood circulation to improve with the enhanced brain functioning and higher energy levels, ensures
     better health. Blood Pressure, diabetes, cholesterol etc. are controlled. (Ref: American Hindu University)

    IT IS NOT JUST A LANGUAGE. Sanskrit is the primordial conduit between Human Thought and the Soul; Physics and
     Metaphysics; Subtle and Gross; Culture and Art; Nature and its Author; Created and the Creator.

Daksham . . . . .the perfectionist !                                                                             EverNote CONSULTANTS

  Foreign Direct Investment (FDI) in Retail and Civil Aviation –                                                                       A dossier

 After years of speculation, political skepticism and                                                          By -The Editorial Team
 seemingly unending debate the Government of
 India finally approved FDI in Retail Trade and            SINGLE-BRAND RETAILING :
 Civil Aviation.
                                                           The Government had earlier permitted upto 100 percent
 Though in November 2011, Government approved              FDI after prior approval and subject to satisfaction of
 decision of permitting upto 51 percent FDI in             prescribed conditions. Now the Government has
 Retail Trade; however this decision was rolled-           following two conditions :
 back. But now again the Government has allowed
                                                           1. Only one-resident entity, whether owner of brand or
 FDI in MULTI-BRAND RETAIL, the important                       otherwise shall be permitted to undertake Single-Brand
 points are as follows :                                        Retail.

 1. FDI upto 51 percent permitted but after prior          2. SBR to be allowed for specific brand, through a legally
    approval from Government in branded products.               tenable agreement with the brand owner.
    Fresh agricultural produce including fruits,
    vegetables, flowers, grains and meat products
    although unbranded may be traded.                      3. For proposals involving FDI beyond 51 percent, sourcing
                                                                30 percent value of goods purchased from Indian village,
                                                                cottage industries, artisans and craftsmen, to be done only if
 2. Minimum investment of USD 100 million to be                 feasible.
    infused by the foreign investor.                       ............................................................................................

 3. Setting-up of retail outlets left to the State         CIVIL AVIATION
    Governments. These outlets may be set-up in cities
    with population of more than 1 million as per 2011     Government has permitted foreign airlines to acquire upto
                                                           49% (cumulative for FDI and FII investment) under the
                                                           approval route in Scheduled and Non-scheduled Air Transport
 4. Atleast 50 percent of the Foreign Investment (FI) to   services subject to following conditions:
    be invested in back-end infrastructure within three
    years of induction of FDI (to include investments
    made       towards    processing,   manufacturing,     1. Compliance with Securities and Exchange Board of India
    distribution, design improvement, quality control,          (SEBI) Regulations and other applicable Rules.
    etc). Expenditure on land cost and rentals, if any,
    would not be counted towards back-end                  2. A Scheduled Operator’s Permit can be granted only to a
    infrastructure.                                             Company :
                                                                 2.1 Which is registered and is maintaining its principal
 5. Minimum sourcing of 30 percent of manufactured/                  place of business in India
    processed products from Small Scale Industries               2.2 Chairman & at least two-thirds of the Directors are
    (units with gross value of investment in Plant &                 Indian citizens,
    Machinery not exceeding USD 1 million).                      2.3 Substantial ownership & effective control is vested in
                                                                     Indian nationals

 6. Government to have first right of procurement of       3. All foreign nationals associated with Indian Scheduled and
    agricultural products.                                      Non-Scheduled air transport services to be cleared from
                                                                security view point before deployment,
 7. Self-Certification by the Company on compliance
    with above conditions and these may be verified by     4. All imported technical equipment shall require clearance
    the Government.                                             from the relevant authority in the Ministry of Civil
 8. A high-level group under the Minister of
    Consumer Affairs to be constituted to examine               Readers are encouraged to discuss and comment
    various issues concerning internal trade/ reforms.          about this article on our Facebook page.

Daksham . . . . .the perfectionist !                                                        EverNote CONSULTANTS

   Goods and Service Tax – Highlights                              By Saqib Ansari

                                                                 5. Taxes on items containing alcohol and
  1. The basic principal governing behind GST is to have            petroleum product are kept out of GST.
     single Taxation System for Goods and Services                  They will continue to be taxed as per existing
     across the country. Currently Indian economy has               practices.
     various taxes on Goods and Services such as VAT,
     Service Tax, Excise, Entertainment Tax, Luxury Tax          6. Tax on Tobacco products will be subject to
     etc. Now in the new Proposal of GST; we will be                GST. But government can levy the extra Excise
     having only two taxes on all goods and Services as             duty over and above GST.
                                                                 7. The Small Taxpayer: The small taxpayers
        (a) State Level GST(SGST)                                   whose gross annual turnover is less than 1.5
        (b) Central Level GST (CGST)                                Crore are exempted from CGST and SGST.
  2. In case of Central GST, following Taxes will be
                                                                 8. Input Tax Credit (ITC): Taxes Paid against
     subsumed with CGST which are at presently levied
                                                                    CGST allowed as ITC against CGST. Taxes paid
     separately on goods and services by Central
                                                                    against SGST allowed as ITC against SGST.

        (a) Central Excise Duty                                  9. Cross utilization of ITC between the Central
        (b) Additional Excise Duty                                  GST and State GST would not be allowed.
        (c) The Excise Duty levied under Medicinal and              Exception: Inter State Supply of goods and
            Toiletries preparation Act                              services.
        (d) Service Tax
        (e) Additional Custom Duty (CVD)                         10. PAN based identification number will be
        (f) Special Additional Duty                                  allowed to each taxpayer to have integration
        (g) Surcharge
                                                                     of GST with Direct Tax.
        (h) Education Cess and Secondary and Higher
            Secondary Education Cess
                                                                 11. IGST Model and ITC:
  3. In case of State GST, following taxes will be
     subsumed with SGST; which are priestly levied on               (a) Center would levy IGST levy ( CGST + SGST)
                                                                    (b) ITC will be allowed in this transaction, will be
     goods and services by State Governments :
                                                                        SGST, IGST, CGST as applicable.
                                                                    (c) Appropriate provision will be provided for
        (a) VAT/ Sales Tax
                                                                        Consignment or Stock transfer.
        (b) Entertainment Tax (unless it is levied by local
        (c) Luxury Tax                                           12. GST Rate Structure:
        (d) Tax on Lottery
        (e) State Cess and Surcharge to the extend related to       (a) Two Rate Structure
            supply of goods and services.                           (b) A lower rate for necessary items and goods of
                                                                        basic importance
                                                                    (c) Standard rate for goods in General
  4. The basic principal for subsuming of taxes in GST
                                                                    (d) Special Rate
     is provided as follows:
                                                                 13. Exports are fully exempted with Zero rates.
       (a) Those taxes which commences with import /
           manufacture /production of goods or provision of
           services at one end and the consumption of goods          Contributor is CA(Final) Student with Expertise
           and services on other end.
                                                                     in Indirect Taxes. He is Expert of Indirect Tax
       (b) The taxes, levies and fees which are not related to
                                                                     Study Group of Daksham. He can be reached at
           supply of goods & services should not be
           subsumed under GST.                                       msa.acc@gmail.com

Daksham . . . . .the perfectionist !                                                               EverNote CONSULTANTS

  Innovative Thinking : Continued from page 4                           Doing Business in India – A Synopsis

                                                                                           By CA Gaurav Gulyani
The Hare and the tortoise, by this time, had become
pretty good friends and they did some thinking                          To do business in India, following options are
together. Both realised that the last race could have                   available to FOREIGN COMPANIES:
been run much better. So they decided to do the last
                                                                        Setting up a corporate entity
race again, but to run as a TEAM this time. They
started off, and this time the hare carried the tortoise                1. Wholly      owned      subsidiary: Foreign
till the riverbank. There, the tortoise took over and                      companies can set up wholly owned
swam across with the hare on his back. On the                              subsidiary companies in India in form of
                                                                           private companies subject to FDI
opposite bank, the hare again carried the tortoise and                     guidelines. A wholly owned or a subsidiary
they reached the finishing line together. They both felt                   company has the maximum flexibility to
a greater sense of satisfaction than they’d felt earlier.                  conduct business in India when compared
                                                                           with a liaison or branch office and has
                                                                           following salient features:
  MORAL – it’s good to be individually brilliant and to
  have strong core competencies; but unless you’re able                     Funding can be done via equity, debt (foreign
  to work in a team and harness each other’s core                             as well as local) and internal accruals
  competencies, you’ll always perform below par because                     Indian transfer pricing regulations apply
  there will always be situations at which you’ll do                        Repatriation of dividends is allowed without
  poorly and someone else does well. Teamwork is                              approvals
  mainly about situational leadership, letting the person
  with the relevant core competencies for a situation take              2. Joint     Venture     with      Indian
  leadership.                                                              partner: Foreign companies can also set
                                                                           up joint venture with Indian or foreign
                                                                           companies in India. There are no separate
                                                                           laws for joint ventures in India and laws
                                                                           governing domestics companies apply
                                                                           equally to joint ventures.

  Website       :    http://www.evernote.webnode.com
                                                                        3. Foreign Institutional Investors: FII’s
  Blog          :    daksham.blogspot.in                                   can invest in India in financial markets
  Facebook     :     http://www.facebook.com/evernoteconsultants           such as pension funds, mutual funds,
     http://www.facebook.com/evernoteconsultants                           investment trusts and asset management
  evernoteconsultants@gmail.com , daksham.evernote@gmail.com
                                                                           companies or their power of attorney
                                                                           holders. FII’s can invest in all securities in

                                                                           primary and secondary markets including
                                                                           the equity and other instruments of
                                                                           companies which are listed or are to be
   Daksham is the mouthpiece of EverNote Consultants. This is an           listed on stock exchanges of India.
   open-source e-Newsletter for professionals in varied fields of the
   Economy.                                                             Interested in reading about setting up Non-
   We truly believe that information sharing across various sectors
                                                                        Corporate Entity? Click here.
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