Other Briefings
India to Define Minimum Stake in Joint Ventures
The expected definition of a joint venture under a new draft of the consolidated FDI policy will raise the minimum level of investment each party must take to 25 percent.
India to Revive FDI into Aviation, Multi-Brand Retail
Indian Commerce Minister Anand Sharma has stated that the government decision concerning restrictions to foreign investment into the country’s multi-brand retail sector were “just a pause” and had not been scrapped.
Indian GAAR Impacts on Mauritius Tax Haven Use
India’s new General Anti-Avoidance Rules kicked in from April 1, and it looks like they will have an immediate impact on the use of Mauritius as a tax haven for investing in India.
India Increases Service Tax Rate
In the Annual Budget for 2012-13, the Finance Minister has proposed to increase service tax to 12 percent from the previous rate of 10 percent. The new rate came into effect from April 1, 2012.
India Proposes to Amend the Term ‘Foreign Company’
Keeping in view the present scenario which has been witnessing a large number of business transactions through the electronic mode, the Indian government has proposed to adapt the definition of the term, “foreign company,” under the Companies Bill (2011) to provide for effective regulation of such entities.
Rules of Overseas Chartered Accountant Firms
Mar. 27 – India’s Ministry of Corporate Affairs informed the Upper House today that Indian chartered accountant (CA) firms are regulated by the Institute of Chartered Accountants of India (ICAI) in terms of provisions of the Chartered Accountants Act (1949) and the rules and regulations framed thereunder. What that means is that no CA firm, […]
India Decreases Interest Rate for Employees’ Provident Fund
Mar. 16 – Before the Union Budget 2012-13, the Finance Minister of India made the decision to decrease the rate of interest on deposits in the Employees’ Provident Fund to 8.25 percent for 2011-12. This move represents the largest rate cut in over a decade and would be 1.25 percent lower than the 9.5 percent […]
Reporting Activities of Liaison Offices in India
Non-resident entities having liaison offices in India are obligated to submit a prescribed annual statement to the tax authorities in respect to their activities within 60 days from the end of the financial year.
