Other Briefings
Assocham: Exempt Foreign Earnings from Income Tax
Apr. 14 – The Associated Chambers of Commerce and Industry of India (Assocham) has proposed that earnings made by Indian companies from overseas firms be exempted from income tax should their stake in the company be more than 10 percent. This would make it easier for Indian companies to reinvest income earned abroad locally and […]
Foreign Investment Promotion Board Calls for Less Undue FDI Scrutiny
Apr. 13 -The Foreign Investment Promotion Board (FIPB) has asked the Department of Revenue to lessen its scrutiny of foreign direct investment proposals to cut delays. Following FIPB rules, a proposal need only to be vetted by the original ministry and any related ministry when recommended by the board. Official sources said that the Department […]
Monorail Manufacturers Concentrate on India’s Infrastructure Boom
Apr. 12 – As the Indian economy develops, the need for massive improvements in its transportation network also increases. With Mumbai’s first monorail service about to be launched and those familiar street level cantilevered rail lines now weaving their way above the city’s roads, other places in the country have already started taking notice. All […]
India Reconsidering FDI in Multi-Brand Retail, Hamleys Moves In
Apr. 12 – India is considering opening multi-brand retail to more foreign direct investment with the Department of Industrial Policy and Promotion (DIPP) in talks with the Finance and Agricultural Ministry on the issue. “The move to open up retail sector is part of the government’s strategy to plug gaps in the existing food supply […]
Higher Withholding Tax for those with No Permanent Account Number
Apr. 8 – Beginning this month, tax deducted at source on payments will be higher for taxpayers providing no permanent account number (PAN). The higher withholding tax rate of as much as 20 percent for taxpayers with no PAN is aimed at improving tax management and compliance. Taxes are required to be withheld at withholding […]
India-U.S. Financial and Economic Partnership Launched
Increased investment by U.S. businesses expected in India Apr. 7 – India and the United States launched the “India-U.S. Financial and Economic Partnership,” in New Delhi on Tuesday to help ease the entry of foreign capital into both countries. The initiative is aimed at encouraging more trade, investment and job creation by improving macroeconomic policy, […]
Corporate Financial Disclosure Reduced to Within 45 Days
Apr. 7 – The Securities and Exchange Board of India (SEBI) announced in a circular that all listed companies are required to disclose their financial results within 45 days of the end of every quarter as a way of simplifying the reporting process and improving transparency. Previously, companies were given 30 to 60 days to […]
Delhi High Court Ruling Clarifies Withholding Tax Provisions
Apr. 2 – A recent decision made by the Delhi High Court clarifies that non-residents are required to withhold taxes only if the payments are taxable in India. Following the court decision, Indian companies will not be liable for procuring withholding tax orders from the Indian tax authorities in cases where the overseas payments are […]
