NOT Easy to Do Business

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# Submitted User IP address It was Sector / Industry State / UT City Response-time of officials Number of documents to be submitted Availability of information about the process Overall Rating It was an attempt to Other The problem was Other cause Details of experience(asc) Advice for others Share my story with Name Contact no Email Privacy Policy Contact me Display it
14 1 Nov 2016 - 22:19 Anonymous (not verified) 110.225.55.126 Not Easy to Do Business Hospitality Delhi Delhi 1/5 1/5 1/5 1/5 Get credit Corrupt officials who asked for bribes A bank manager asked for bribe for approval of loan. Don't take loan from government banks. Keep it Anonymous Anonymous 9818248285 sonusth2005@gmail.com I have read and I agree with the Privacy Policy mentioned below Yes
74 16 Dec 2016 - 11:39 Prashant 49.204.110.82 Not Easy to Do Business IT Maharashtra Mumbai 1/5 1/5 1/5 1/5 Register the business Corrupt officials who asked for bribes 1) Bribe to complete registration of proprietorship. Didn't have to give bribe for registration of private limited company thankfully.

2) No clarity on taxes. For example, when you pay someone for a service, you have to cut 10% TDS. Now, if that person is Amazon and they are a MNC with offices in India and you pay them for their servers - do you deduct TDS? Amazon wants full payment. I talked to a dozen CAs and even a friend of mine in Indian Revenue Service, all of them had no clue. But they suggested me to pay the TDS just to be safe. So I had to pay Amazon the full amount and then 10% on top of that to Dear Govt of India. 100s of scenarios like this with no clarity.

3) Investment laws are a mess. Angel investments go straight into books of account as income and are taxed. God help you if you ever receive a FDI, I finally returned the money to the investor (it was 5 lakhs), as the amount of running around I had to do was not worth it for that small amount.

4) Terrible legal system- it's effectively a joke. An acquisition for one of my products fell through because the acquirer didn't want to make disputes subject to Indian jurisdiction in the contract because, in his own words, "the Indian legal system isn't held in very high regard here (Australia)"

5) High cost of doing businesses. My gateway charges a 5% premium (so 3%+5%) for Indian businesses, because of the increased costs of operation. So, while an American company can charge only 3%, I have to settle for 8%.
So many other small little things - it's like death by a thousand cuts. 		It's a tough road, starting and conducting business in India. Be prepared for a lot of hardships. Keep it Anonymous Anonymous - abcd@gmail.com I have read and I agree with the Privacy Policy mentioned below Yes