Other Briefings
Specified Domestic Transactions and Transfer Pricing Provisions in India
India’s Revenue Authorities have extended the applicability of Transfer Pricing provisions to specified local transactions executed between related parties. These provisions initially became effective on March 31, 2013 for transactions exceeding an aggregate value of INR 50 million (US$805,000).
India Increases Tax Audit Limit for Chartered Accountants
The Institute of Chartered Accountants of India (ICAI) has increased the number of tax audit assignments for practicing chartered accountants from 45 to 60. The press release cites the ability for chartered accountants to provide professional, competent services in an IT-enabled environment as the reason for the increase.
Tax Treatment in India
In this article, we highlight several key tax rates in India, including the corporate income tax, the withholding tax and the value-added tax rate. We also outline several points of interest relating to the tax treatment of these items.
Transfer Pricing Law in India
Understanding transfer pricing law in India is an important aspect of maintaining appropriate financial records and will be necessary come tax season. In this article, we outline the key points of India’s transfer pricing policy and their application to Associated Enterprises operating in India.
Individual Income Tax in India
Businesses in India are required to withhold Individual Income Tax (IIT) from an employee’s salary on a monthly basis. In this article, we outline several key regulatory procedures to be aware of when processing your taxes in India
India in Talks with Mauritius and Cyprus to Prevent Tax Base Erosion
India is currently revisiting its double tax avoidance agreements (DTAAs) with both Mauritius and Cyprus as it takes measures to protect its tax base. The two tax havens are India’s largest and seventh-largest sources of FDI inflows, respectively, together comprising almost 45 percent of India’s FDI in 2013 (around US$10 billion in the financial year ended March 2013).
India Ratings Chief: Indian Banks Need New Model to Succeed
Dec. 30 – The CEO of India’s leading rating agency, India Ratings & Research, has suggested that new banks in India will need to develop a fresh business model to profit in rural areas and mitigate risks associated with technology and cash management. After a nearly decade-long hiatus in the processing of applications for new […]
India’s Economy on Track for Expansion in 2014
Dec. 3 – After Ernst & Young ranked India as the most attractive investment destination in the world last week, strong quarterly growth figures indicate India’s economy is on track to expand by at least 5 percent in 2014. In a press conference yesterday, Indian Finance Minister P. Chidambaram pointed to India’s decreasing account deficit, […]
