A
- AAC Annual Activity Certificate
- A yearly auditor's certificate that the office stayed within permitted activities.
- AD Authorised Dealer
- A bank licensed by the RBI to handle foreign exchange.
- AGILE-PRO-S Application for GST, ESIC, EPFO, Profession Tax, Bank Account and Shops & Establishment Registration
- A companion form that applies for several registrations at once.
- AGM Annual General Meeting
- The yearly shareholders' meeting required by law.
- AIS Annual Information Statement
- The tax department's record of your reported income and taxes.
B
- BBMP Bruhat Bengaluru Mahanagara Palike
- Bengaluru's city municipal corporation.
- BO Branch Office
- An extension of a foreign company that can trade in India.
C
- CA Chartered Accountant
- A qualified accountant registered with ICAI.
- CbCR Country-by-Country Reporting
- A group-level report of profits and taxes by country.
- CCD Compulsorily Convertible Debentures
- Debt instruments that must convert into equity shares.
- CCPS Compulsorily Convertible Preference Shares
- Preference shares that must convert into equity shares.
- CFE Consent for Establishment
- Pollution-board approval to build the unit.
- CFO Consent for Operation
- Pollution-board approval to start operating.
- CIT Commissioner of Income Tax
- A senior income-tax officer who hears first appeals.
- CoC Certificate of Coverage
- Proof an expat stays in the home-country social-security scheme.
- CS Company Secretary
- A qualified corporate-law and governance professional.
D
- DGFT Directorate General of Foreign Trade
- The government body that regulates imports and exports.
- DIN Director Identification Number
- A lifetime ID number every company director must hold.
- DPIIT Department for Promotion of Industry and Internal Trade
- The ministry department that recognises startups.
- DPIN Designated Partner Identification Number
- The equivalent ID number for LLP designated partners.
- DRC Dispute Resolution Committee
- A committee that settles smaller tax disputes.
- DRP Dispute Resolution Panel
- A panel of commissioners reviewing draft transfer-pricing assessments.
- DSC Digital Signature Certificate
- A USB token used to sign government filings electronically.
- DTAA Double Taxation Avoidance Agreement
- A tax treaty between India and another country.
E
- EC Enrolment Certificate
- The entity's own professional-tax registration.
- ECB External Commercial Borrowing
- A loan taken by an Indian entity from a foreign lender.
- ECR Electronic Challan-cum-Return
- The monthly EPF payment and return file.
- EPC Engineering, Procurement and Construction
- Turnkey contracts for building infrastructure.
- EPF Employees' Provident Fund
- India's mandatory retirement-savings scheme for employees.
- EPFO Employees' Provident Fund Organisation
- The government body that runs the EPF scheme.
- ERP Enterprise Resource Planning
- A group-wide accounting and operations software system.
- ESI Employees' State Insurance
- State-run medical and cash-benefit insurance for lower-paid employees.
- ESIC Employees' State Insurance Corporation
- The body that administers the ESI scheme.
- ESOP Employee Stock Option Plan
- A scheme granting employees the right to buy shares.
F
- FC-GPR Foreign Currency – Gross Provisional Return
- The RBI form reporting shares issued to a foreign investor.
- FC-TRS Foreign Currency – Transfer of Shares
- The RBI form reporting share transfers involving a non-resident.
- FCA Fellow Chartered Accountant
- A senior membership grade of ICAI.
- FDI Foreign Direct Investment
- Money invested in an Indian business from outside India.
- FEMA Foreign Exchange Management Act
- The law governing foreign money entering or leaving India.
- FiLLiP Form for Incorporation of Limited Liability Partnership
- The MCA's online LLP-incorporation form.
- FIRC Foreign Inward Remittance Certificate
- The bank's proof that foreign money was received.
- FIRMS Foreign Investment Reporting and Management System
- The RBI's online portal for foreign-investment filings.
- FLA Foreign Liabilities and Assets
- The RBI's annual return of foreign investment held.
- FRRO Foreigners Regional Registration Office
- The immigration office where foreigners on long-term visas must register.
- FSSAI Food Safety and Standards Authority of India
- The national food-safety licensing regulator.
G
- GAAP Generally Accepted Accounting Principles
- The accounting rules followed in a country.
- GST Goods and Services Tax
- India's single indirect tax on goods and services.
- GSTIN GST Identification Number
- The registration number under which you charge GST.
H
- HUF Hindu Undivided Family
- A family unit taxed as a separate person in India.
I
- IBBI Insolvency and Bankruptcy Board of India
- The regulator that registers valuers and insolvency professionals.
- IBC Insolvency and Bankruptcy Code
- India's law for resolving insolvent companies.
- ICAI Institute of Chartered Accountants of India
- The statutory body that regulates Indian chartered accountants.
- ICEGATE Indian Customs Electronic Gateway
- The customs department's online filing portal.
- IEC Import Export Code
- The licence number needed to import or export goods.
- IFRS International Financial Reporting Standards
- The global accounting standards many parent companies use.
- Ind AS Indian Accounting Standards
- India's accounting standards, converged with IFRS.
- IP Insured Person
- An employee's identification number under ESI.
- IPO Initial Public Offering
- Listing a company's shares on a stock exchange.
- IT Information Technology
- Computer systems and software.
- ITAT Income Tax Appellate Tribunal
- The tribunal that hears appeals against tax orders.
- ITC Input Tax Credit
- GST paid on purchases, set off against GST collected.
- ITES Information Technology Enabled Services
- Services delivered through IT, such as back-office operations.
- IW International Worker
- A foreign employee covered by Indian EPF rules.
K
- KPI Key Performance Indicator
- A measure used to track business performance.
- KSPCB Karnataka State Pollution Control Board
- The state regulator for air, water and waste pollution.
- KYC Know Your Customer
- Identity and address verification documents.
L
- LLP Limited Liability Partnership
- A partnership whose partners have limited liability.
- LO Liaison Office
- A representative office that cannot earn income in India.
- LUT Letter of Undertaking
- A declaration allowing exports without paying GST upfront.
M
- MCA Ministry of Corporate Affairs
- The central ministry that registers and regulates Indian companies.
- MIS Management Information System
- A regular management report on performance and compliance.
- MOA/AOA Memorandum and Articles of Association
- The company's constitution and its internal rulebook.
- MSME Micro, Small and Medium Enterprises
- Smaller businesses eligible for government benefits.
N
- NCLT National Company Law Tribunal
- The court that decides company-law and insolvency matters.
- NOC No-Objection Certificate
- A letter confirming the owner or authority has no objection.
- NRI Non-Resident Indian
- An Indian citizen living outside India.
O
- ODI Overseas Direct Investment
- Investment by an Indian entity into a business abroad.
- OPC One Person Company
- A company with a single shareholder.
P
- P&L Profit and Loss statement
- The report of income and expenses for a period.
- PAN Permanent Account Number
- The income-tax identity number of a person or entity.
- PO Project Office
- A temporary office set up to execute one Indian contract.
Q
- QRMP Quarterly Return Monthly Payment
- A simplified GST filing scheme for smaller businesses.
R
- RBI Reserve Bank of India
- India's central bank, which regulates foreign investment and remittances.
- RC Registration Certificate
- The employer's registration to deduct professional tax from staff.
- ROC Registrar of Companies
- The MCA office that keeps company records and receives filings.
S
- SAFE Simple Agreement for Future Equity
- An investor agreement to receive shares in a future round.
- SEZ Special Economic Zone
- A designated export zone with tax and duty concessions.
- SPICe+ Simplified Proforma for Incorporating Company Electronically Plus
- The MCA's single online company-incorporation form.
- SSA Social Security Agreement
- A treaty avoiding double social-security contributions for posted workers.
- STPI Software Technology Parks of India
- A government scheme for IT export units.
T
- TAN Tax Deduction Account Number
- The number used to deposit and report withheld tax.
- TCS Tax Collected at Source
- Tax a seller collects from the buyer at sale.
- TDS Tax Deducted at Source
- India's withholding tax, deducted by the payer before paying you.
- TRC Tax Residency Certificate
- Proof from your home tax authority of where you are tax-resident.
U
- UAN Universal Account Number
- An employee's lifetime EPF account number.
- UIN Unique Identification Number
- The RBI's reference number for a foreign company's Indian office.