https://www.taxtmi.com/news?id=828 Foreign companies must obtain prior permission from the Reserve Bank of India via Form FNC-1 to open branch offices in India; branches may carry out only RBI approved activities, cannot accept deposits, must fund operations from inbound funds or local income, are not separate legal entities, and may remit profits net of taxes subject to RBI guidelines. Permitted activities include trade, consultancy, research tied to the parent, technical and financial collaboration, representation and agency roles, IT and software development, technical support, and operations by foreign airlines and shipping companies; manufacturing must be subcontracted to Indian manufacturers. en-us Mon, 04 May 2009 13:22:40 +0530 Mon, 04 May 2009 13:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=828 Foreign companies must obtain prior permission from the Reserve Bank of India via Form FNC-1 to open branch offices in India; branches may carry out only RBI approved activities, cannot accept deposits, must fund operations from inbound funds or local income, are not separate legal entities, and may remit profits net of taxes subject to RBI guidelines. Permitted activities include trade, consultancy, research tied to the parent, technical and financial collaboration, representation and agency roles, IT and software development, technical support, and operations by foreign airlines and shipping companies; manufacturing must be subcontracted to Indian manufacturers. News - Mon, 04 May 2009 13:22:40 +0530 https://www.taxtmi.com/news?id=828