Other Briefings
Mauritius Government Amends its Double Tax Treaty with India to Align with BEPS MLI
In a list of Cabinet Decisions taken by the Mauritius government on February 23, 2024, it was announced that its DTAA with India would be amended in keeping with BEPS norms.
India’s New Tax Compliance Law Impacting MSMEs: Section 43B(h) Explained
We discuss why specified companies could face higher taxable incomes under section 43B(h) of the Income-tax Act, 1961, due to delayed payments to MSME suppliers.
Understanding Accelerated Depreciation of Solar Power Assets in India
Accelerated depreciation is a crucial driver of investments in the adoption of solar power in India, offering commercial and industrial consumers faster depreciation on solar power plant investments than traditional plants and machinery.
Interim Budget Rounds Up Key Tax Reforms, Makes Case for Modi Re-Election
Finance Minister Nirmala Sitharaman rounded up the government’s recent tax measures in her 2024 interim budget, with no new changes to the tax regime, in a marked departure from 2019. We list some of the highlighted policy achievements in this brief and note a few extensions.
India’s Interim Budget 2024: No Populist Measures, No Changes to Taxation
India’s interim budget 2024, which is a vote on account, was presented on February 1, and contained no major policy changes or revisions to taxation. We round up the key provisions laid out in the budget and the fiscal data provided by Finance Minister Nirmala Sitharaman.
Leveraging Section 80EEB: Tax Benefits for Businesses on Electric Vehicle Loans
India has in place tax incentives for businesses and individuals taking loans to buy electric vehicles. We discuss the relevant provisions under Section 80EEB of the Income Tax Act, 1961.
India’s Concessional Tax Regime for Manufacturing Sector Approaches Sunset Date: Industry View
India’s manufacturing sector seeks an extension of incentives from the government, including prolonging the duration of the 15% concessional tax scheme.
India’s Tax Authority Issues Notification for Non-Resident Investors in Financial Products via IFSC Units
The Ministry of Finance notification delineates the criteria for the recognition of investment in a financial product by non-residents, particularly when the income is deposited in the non-resident’s account with the Offshore Banking Unit of the IFSC, as specified in section 80LA.
