Other Briefings
New Bill to Bring Greater Regulation to Real Estate Sector
India’s Union Cabinet passed the Real Estate (Regulation and Development) Bill 2013 this week that will put into effect a uniform regulatory system for real estate developers.
India Narrows “Tolerance Band” for Related-Party Transactions
India’s central government recently issued notification F. No. 500/185/2011 FTD 1 to narrow the “tolerance band” used in calculating the arm’s length range for related-party transactions.
Further Tax Amendments Receive Approval in India
India recently passed amendments to its Finance Bill. Tax on share buybacks will now be raised to 20 percent, while the tax on technical service fees provided to non-residents will also be raised from 10 percent to 25 percent.
Bombay Stock Exchange Launches Shariah Index
The Bombay Stock Exchange has become India’s first stock exchange to launch an Islamic-focused Index, calling it the S&P BSE 500 Shariah Index. It will be compliant with Islamic canonical law in choosing investments.
India Expands Visa On Arrival Service
The Indian government has recently enacted a slew of measures that will seek to further liberalize the visa regime in the country and to boost the number of arriving foreign tourists and businessmen.
Government Raises FDI Limit in Asset Reconstruction Companies
Due to the increasing demand for these companies’ services and to certain macroeconomic trends, the foreign direct investment (FDI) limit in ARCs has been increased to 74 percent. The government previously limited FDI in ARCs to 49 percent. It is hoped that this revision will bring greater foreign expertise into the segment.
How Are Non-Residents Taxed on Royalties and Fees for Technical Services?
Mar. 29 – When a non-resident earns any income in India by way of royalties or fees for technical services, they are liable to pay the relevant taxes. The official definition of royalties and fees, as stipulated by Section 9 of the Income Tax Act 1961, can be found below.
Highlights From India’s 2013 Budget
Mar. 5 – India’s Finance Minister Mr. P. Chidambaram recently presented his 2013 Budget to the Indian Parliament in one of the most keenly awaited documents of recent years. The coming year’s Budget has been seen as critical by both Indian and international analysts, as many see 2013 as the year India may regain its […]
