Other Briefings
Indian Government Provides Business Friendly Clarification for MAT
A welcome announcement to foreign investors: FIIs and FPIs are not liable for MAT if they have no permanent establishment or place of business in India. The change signals the government’s desire to improve India’s image as an investment destination.
India to Reduce Corporate Income Tax Rate to 25 Percent
India has announced a reduction in corporate tax rates from 30 to 25 percent in a move that brings India into closer pricing competition with China.
India’s Black Money Act: Liability and Compliance
India’s new Black Money Act has taken a tough stance against tax avoidance. This article explains who is liable, how the tax is computed, associated penalties and procedures for availing of the voluntary compliance program.
Ind-AS 108: Accounting for Operating Segments Gets Overhaul
Ind-AS will bring Indian companies in line with accounting standards used globally, but segment disclosures will include potentially sensitive information.
India, U.S. Sign Tax Information Agreement for FATCA
The Foreign Account Tax Compliance Act (FATCA) will affect U.S. persons and Indian financial institutions in India. Learn more about FATCA and how it impacts you here.
Determining Tax Liability for Foreign Nationals Working in India
In general, foreign nationals working in India are liable for Indian income tax. They may also be liable for capital gains tax on disposal of capital assets in India. Whether an individual is liable to pay Indian income tax is dependent on the foreign national’s physical presence in India, regardless of citizenship or the purpose of the stay.
Understanding India’s Late Filing Deadline for 2013-2014 Tax Returns
As foreign direct investment into India continues to grow, many individuals are asking themselves what their responsibility is in regards to filing an Indian tax return. Because Indian penalties are strict for late or non-filing, and because certain limitations exist for late-filed returns, it is important to know the filing rules and apply them in a timely manner.
Tax Residency in India Set for POEM Test
The new tax residency test for companies doing business in India is a business-friendly gesture, but some foreign investors are concerned. The law as written leaves too much uncertainty in implementation.
