Other Briefings
Pre-Merger Consultation to be Available Soon
Feb. 18 – The Competition Commission of India (CCI) is considering a new scheme that will provide pre-merger consultation for companies mulling over potential mergers and acquisition. This will allow companies the opportunity to seek competition regulator’s views prior to filing proposals and cut down on approval times and delay that sometimes can take as […]
Indian Government Reduces Central Approval Process for FDI
Feb. 17 – The Indian Cabinet Committee on Economic Affairs (CCEA) has reduced the approvals process concerning foreign direct investment into India by doubling the threshold required for prior government approval from Rs.6 billion (US$130 million) to Rs.12 billion (US$260 million). The change has come following proposals put forward by the Department of Industrial Policy […]
India to Continue Work on Free Trade Agreements
Feb. 15 – The Indian Minister of State for External Affairs Shashi Tharoor says India will continue to work on free trade agreements as well as concluding comprehensive economic cooperation agreements with countries with whom the economic engagement is substantive. Inaugurating an international conference in Thiruvananthapuram on Asian trade hosted by the Asian Development Dialogue, […]
New Companies Bill to Be Approved During Monsoon Session
Feb. 12 – India’s new Companies Bill is expected to be approved during Parliament’s monsoon session. The new bill will replace the current Companies Act that has been in place since 1952. Corporate secretary R. Bandyopadhay told Press Trust of India: “With the speed at which the parliamentary standing committee is proceeding with the discussions, […]
Common Deductible Items When Computing for Taxable Income
Feb. 11 – When computing for taxable income we often forget to include certain items that can be claimed as tax deductible. Below is a list of common items eligible for a tax deduction: Medical treatment of specified ailments under section 80DDB A deduction can be filed for medical expenses for ailments like AIDS, cancer […]
India to Continue Special Economic Zones Tax Benefits
Feb. 10 – The government is expected to formally clarify that special economic zones (SEZs) will continue to maintain its specific tax benefits even after the implementation of the new direct taxes code. India’s Commerce Department has been calling for the clarification on SEZ tax to assure investors that tax benefits will still be applicable […]
Purchasing Manager’s Index at 17 Month High
Feb. 10 – India’s manufacturing Purchasing Managers’ Index, a key measure that indicates the mood in the manufacturing sector, rose to a 17-month high at 57.6 in January from 55.6 in December. Exports increased for the second month running and in December it grew by 9.3 percent to US$14.6 billion. An analyst from Nomura told […]
India Forecasts 7.2 Percent Growth, Per Capita Income Increases
Feb. 9 – India’s domestic economic growth is forecast to reach 7.2 percent for 2009-10, against the 6.7 percent recorded a year ago, according to advance gross domestic product estimates released by the Central Statistical Organization (CSO). As per forecast estimates, per capita income is set to rise to US$945 from US$864 in 2008-09, an […]
