Other Briefings
New Hotels to be Given 5 Year Tax Holiday
Jan. 27 – To encourage more hotels to open prior to the Commonwealth Games, India is giving a five-year tax holiday for new hotels completed in the national capital region before March 31. The rule will apply to 2, 3 and 4 star hotels and exclude 5 star hotels. An estimated 100,000 tourists are expected […]
India Signs Revised Double Taxation Treaty with Finland
Jan. 25 – India and Finland have signed a revised version of the Double Taxation Avoidance Agreement (DTAA). The new agreement will cut withholding tax rates on dividends to 10 percent from 15 percent in addition to setting a 10 percent rate for royalties and fees for technical services. It will expand the scope of […]
Government to Ease FDI Approval Process
Jan. 22 – India is considering relaxing norms for foreign direct investment to require that only projects worth about US$217 million to US$326 million will need final approval from the Cabinet Committee on Economic Affairs (CCEA). Currently, projects worth more than US$130 million need to cleared with the Finance Minister, the Foreign Investment Promotion Board […]
Delhi Court Includes Chief Justice Office Under Information Act
Jan. 12 – The Delhi High Court will uphold its bench order that includes the office of the Chief Justice of India within the scope of the Right to Information (RTI) Act and requires judges to declare their assets. The bench made up of Chief Justice A.P. Shah and Justices S. Muralidhar and Vikramjeet Sen […]
New Policy to Turn Delhi into IT Hub
Jan. 5 – A recently approved industrial policy for New Delhi aims to consolidate business in the capital to turn it into a high-tech, knowledge-based service sector and IT hub. Two special economic zones will initially be set up in Baprola, one for gems and jewelery and the other for IT and information technology enabled […]
Italy Suggests Routes, Facilities for Indian Trade
Dec. 17 – Italian Minister for Economic Development said it would consider creating preferred shipping routes exclusively for Indian trade. A collaboration agreement is in the works to link the ports of Venice with Mumbai and Genoa with Chennai with the aim of making Italy the gateway for Indian products bound for the European and […]
India’s Proposal for Climate Innovation Centers Approved
Dec. 16 – India’s suggestion to build a network of climate innovation centers overseas to develop and share green technologies has been accepted and will be part of the basis of the Copenhagen agreement when the U.N. Climate Change Summit wraps up in two days. The climate innovation centers will improve on local technology requirements […]
Telangana Party Willing to Wait Until 2014
Dec. 15 – The leading Telangana political party Telangana Rashtra Samiti (TRS) said that it was willing to wait until 2014 for the promised Telangana state to become a reality. A TRS leader was quoted in the Times of India as saying: ‘‘We would be very happy if it happens before that. But we know […]
