Other Briefings
India Allows 100% FDI in Single Brand Retail
The Indian government on Tuesday agreed to allow 100 percent foreign ownership in single brand retail stores, paving the way for international businesses such as Starbucks, Ikea and Adidas to operate independently in the country without having to involve local partners.
India and Macau Sign Double Taxation Avoidance Agreement
To aid tax and banking-related information exchange and prevent tax evasion, India signed a double taxation avoidance agreement with Macau on January 1.
India to Loosen Restrictions on FDI into Broadcasting Services
The Government of India is planning to propose a hike in the maxiamum foreign direct investment (FDI) capital allowed in broadcasting services – such as direct-to-home (DTH) and cable TV – to a uniform portion of 74 percent.
Amended Rules for Unlisted Public Companies
The Central Government of India has recently made amendments to the list of rules for Unlisted Public Companies (known as the “Unlisted Public Companies Preferential Allotment [2011]”). These rules will come into effect on the date of their publication in the Official Gazette.
Power of Attorney and Letter of Authority
Dec. 15 – A Letter of Authority (LOA) can be used for most tasks, but should not be used for tasks that are more complicated. When large transactions are involved Power of Attorney (POA) is a better option because POA sets out the manner in which an action is to be carried out. An LOA […]
Tax Collected at Source in India
Dec. 8 – The vendor has to accumulate tax from the payer who has purchased the following items: Alcoholic liquor for human consumption Tendu leaves Timber obtained under a forest lease Timber obtained by any mode other than under a forest lease Any other forest produce not being timber or tendu leaves
Updating of PAN Card Specifications in India
Dec. 1 – The permanent account number (PAN) card, issued by the income tax authorities, is now broadly used in financial transactions and one of the most convenient proofs for identity. Therefore, it is essential to keep the PAN card updated to reflect your current details. The tax information network, operated by the National Securities […]
FDI in India’s Aviation Sector May Be Increased
Nov. 24 – The Indian government has indicated that it will move speedily to save the country’s deteriorating aviation industry by liberalizing rules on foreign investment. A draft cabinet note on foreign direct investment has put the FDI cap for foreign airlines at 26 percent against 24 percent planned originally by the Civil Aviation Ministry […]
