Other Briefings
Minimum Alternate Tax May Be Credited Against Corporate Tax
Jun. 18 – India may allow companies in all sectors paying the minimum alternate tax (MAT) to credit it against corporate tax that can be carried forward for 10 years according to a revised discussion paper released on Tuesday. Currently, MAT is levied at 19.93 percent of book profits. The long awaited Direct Tax Code […]
Special Economic Zone Units Allowed to Relocate
Jun. 17 – The government will soon allow industrial units to transfer from one special economic zone to another pending consent from the Board of Approval (BoA). It is easier for an industrial unit to petition for a transfer to another special economic zone if the units have yet to begin operations or production as […]
An Overview of Indian Labor Law and Policy
By Vikas Srivastava MUMBAI, Jun. 14 – The Constitution of India provides that the central government as well as the state government be vested the power to enact and amend rules and regulations related to labor policy in the country. Regulations that address labor and safety in mines and oil fields and Union agencies and […]
India to Set Up Tribunals for Economic Disputes
Jun. 11 – India is considering establishing dispute resolutions panels and courts that will specifically address economic disputes. This could that could lead to revisions in Indian law. Initially, the proposal was presented by the Prime Minister’s Council on Trade and Industry. “Legislations dealing with sectors such as pension funds, insurance, banking, company affairs and […]
Indian Ministries to Support 100 Percent FDI in Multi-Brand Retail
May 25 – India’s Commerce and Industry Ministry is likely to support a move to allow 100 percent foreign direct investment in multi-brand retail that could open the market further for multinational companies like Tesco and Wal-Mart. The proposed paper will recommend strict domestic sourcing requirements and require investments in backward linkages with the official […]
India Trade Pact with ASEAN Members Applicable by August
May 24 – India’s trade pact with seven member countries of the Association of Southeast Asian Nations (ASEAN) will begin to take effect in August. The India-ASEAN trade pact was signed last year but was initially only adopted by ASEAN members Singapore, Thailand and Malaysia in January. The other seven members of the group will […]
India Set to Overhaul Labor Law
May 21 – The Indian government has announced plans to revamp its labor law to make it easier for both employees and employers to settle disputes. This may mean that the new law will provide more avenues for resolving labor grievances out of court. Companies with a minimum of 20 employees may be required to […]
India, United States Settle Tax Profit Dispute
May 20 – A tax dispute between India and the United States has been resolved with India agreeing to tax 17.5 percent of the profits earned by the Indian subsidiaries of U.S. companies in 2004-05. Previously, India wanted to implement a 25 to 30 percent tax on profits of IT services and research arms of […]
