Other Briefings
General Analysis of the 2012-2013 Budget for Indian Citizens
Mar. 23 – Ordinary Indian citizens have a lot of hope for the Budget 2012-13 in terms of more income tax freedom, more income tax deductions, and the documents potential to rein in inflation. Even while the average citizen is also interested in growth and industrial development, that last point, inflation, will definitely be of […]
Service Tax for Directors for the Year 2012-13
Mar. 22 – Before the new budget was issued, there was ambiguity surrounding the dealing of director’s remuneration. There is inconsistency about whether it is considered salary income or business income chargeable under the head business and profession. However, in the new union budget, India has issued a new clause – clause 194(J) – clarifying […]
India’s New Tax Structure for the Year 2012-13
Income tax rates with respect to the assessment year 2012-2013 Mar. 20 – In respect to income of all categories of assessees accountable for tax during the assessment year 2012-13, the rates of income tax have been specified in Part I of the First Schedule to the Bill. These are the same as those laid […]
Tax Relief Suggestions for India’s Yearly Budget
Mar. 15 – During the yearly Union Budget set to take place later this week, the Select Committee of Parliament is expected to replace the Income Tax Act (1961) after examining the Direct Tax Code Bill (DTC), and has recommended some very significant tax reforms and tax payer-friendly measures. With regards to personal taxation, it […]
Funding Options for a Corporation in India
By Cherry Bansal Mar. 7 – These days, business has no boundaries. Entrepreneurs are investing worldwide and indulging in more and more cross border investments. While investing in various countries, investors can take advantage of low tax jurisdictions over high tax jurisdictions by structuring the funding in a tax efficient manner. There are broadly two […]
India Sees Record FII Investment
Feb. 29 – Foreign Institutional Investors (FIIs) invested Rs. 7,598 crore net into India’s equity markets on February 24, 2012 – making it the largest ever fund flow on a single day in rupee terms. Information released by the Securities and Exchange Board of India (SEBI) showed that the FII investments seen on February 24 […]
Greater Scrutiny for Foreign-Owned Liaison Offices in India
On February 6, India’s Central Board for Direct Taxes (CBDT) introduced a new regulation governing foreign-operated liaison offices in India.
RBI Eases Payment System for Exporters
Feb. 22 – The RBI has permitted banks to allow exporters to accept advance payment for shipment of goods which would take more than one year to manufacture, a stride which will decrease transaction time. The RBI stated that to liberalize the process, AD Category-I banks would be able to allow exporters to receive advance […]
