India’s Tax Authority Issues Notification for Non-Resident Investors in Financial Products via IFSC Units
The Ministry of Finance notification delineates the criteria for the recognition of investment in a financial product by non-residents, particularly when the income is deposited in the non-resident’s account with the Offshore Banking Unit of the IFSC, as specified in section 80LA.
EPFO Extends Deadline for Employers in India to Upload Wage Details for Higher Pensions by May 31, 2024
The EPFO has extended the deadline by five months for employers to submit wage details for members eligible for an increased pension. We discuss pertinent details for compliance.
PLI Scheme for India’s Automotive Sector Amended and Extended by One Year
India’s PLI Scheme for the automotive sector has been extended by a year as applicants require more time to meet the eligibility provisions. The first round of incentives will be disbursed in FY 2024-25 per the government in a recent announcement, and after much delay. Only Tata Motors, Ola Electric, and Mahindra & Mahindra have met key domestic value addition criteria.
India-Malaysia Economic Partnership: Challenges, Prospects, and Strategic Collaborations
This article explores India Malaysia trade ties, highlighting collaborations, challenges, and prospects for economic growth.
India’s Corporate Governance Reforms: Key Regulatory Changes to Pay Attention to in 2024
India’s corporate governance reforms have digitized compliance requirements while also increasing scope for scrutiny. We list key changes implemented throughout the year that companies doing business in India should be mindful of going into 2024.
Recent Changes to Form 10F: A Guide for Non-Residents Seeking to Claim DTAA Benefits in India
Recent amendments to Form 10F procedures in India require electronic filing as a mandatory compliance to successfully claim DTAA benefits.
India’s Industry and Trade Promotion Body Releases Year-End Report for 2023
DPIIT, India’s trade & industry promotion body, highlights key schemes and economic milestones that facilitate the country’s foreign investment climate, including support for export-oriented production, reduction of compliances, expanding the industrial base, and financing for startups and MSMEs.
India’s Antitrust Regulator CCI Circulates Draft Rules on Determining Company Turnover
The Competition Commission of India (CCI) is inviting feedback on the proposed rules for calculating company turnover/income from December 22, 2023, to January 12, 2024. Comments must be submitted by completing the form exclusively available on the CCI website.