Other Briefings
Tax on Provident Funds in India
Nov. 23 – India’s Provident Fund (PF) is a clear payment arrangement – where each employee contributes 12 percent of their pay on a monthly basis and the individual’s employer is accountable for an equal contribution – out of which a part is remitted towards the pension fund. The employee may choose to submit an […]
Amendments in India’s Industrial Policy
Nov. 15 – The main purposes of India’s Industrial Policy of the Government are to maintain a sustained growth in productivity, to enhance gainful employment, to achieve optimal utilization of human resources, to attain international competitiveness, and to transform India into a major partner and player in the global arena. The Policy focus is on […]
Amendments in FDI Policy for India’s Pharma Sectors
The government of India has already allowed 100 percent FDI into the pharmaceuticals industry. Recently, the government has reviewed its policy in the particular sector.
New PAN Forms for India’s Non-Residents
India’s Income Tax Department has initiated a separate permanent account number application form for non-residents in which NRIs, PIOs and organizations wanting to set up an entity in India will have to provide additional information to the Central Board of Direct Taxes.
Hike in India PayPal Payments Ceiling to US$3,000 per Transaction
Oct. 20 – Users of online payment web site PayPal in India can now accept up to US$3,000 per export-related transaction in their accounts, with the RBI raising this limit from US$500 per transaction earlier. The payment has to be withdrawn within seven days irrespective of the currency risk. Also, RBI has barred purchases abroad […]
India Announces Special Incentives for Exporters
Oct. 19 – The government of India announced a Rs. 900-crore package for exporters to assist them to fight with the slowdown in developed markets and rising input costs. The Reserve Bank of India has already declared an interest subsidy of 2 percent on rupee export credit for handicrafts, handlooms, carpets and small and medium […]
India Grants Approval to Buy Assets Overseas for Public Sector Units
Oct. 14 – The government of India has permitted a policy to facilitate profit-making state-run firms to obtain assets overseas. The new policy also seeks to augment the power of Maharatna and Navratna companies and provide greater autonomy for acquiring raw material assets abroad. The government will also mull over setting up a dedicated Sovereign […]
Highlights of the Drafted Telecom Policy
Oct. 13 – The Communication Ministry of India unveiled the new Telecom Policy which contains new rules for the industry. The revised rules, which will substitute the existing framework that has been in place since 1999, aims to have broadband on demand for all citizens. According to the new policy, revenue generation will play an […]
