Other Briefings
The Wealth Report: Mumbai and Delhi Represent ‘Significant Investor Promise’
Apr. 15 – The Mumbai and New Delhi realty markets hold a significant level of promise for potential investors, says Knight Frank’s The Wealth Report 2010. The report forecasts trends and identifies areas of growth in global prime residential property and wealth. Moreover, it provides insight to the attitudes of the wealthy towards property and […]
India Blocks Entry of Foreign For-Profit Universities
Apr. 15 – One of the restrictions of India’s newest Foreign Education Providers Bill will block the entry of foreign for-profit universities in the country. Last month, the cabinet approved the Foreign Education Providers Bill that would allow foreign universities to establish campuses in India. The bill also restricts foreign universities from repatriating money to […]
Assocham: Exempt Foreign Earnings from Income Tax
Apr. 14 – The Associated Chambers of Commerce and Industry of India (Assocham) has proposed that earnings made by Indian companies from overseas firms be exempted from income tax should their stake in the company be more than 10 percent. This would make it easier for Indian companies to reinvest income earned abroad locally and […]
Foreign Investment Promotion Board Calls for Less Undue FDI Scrutiny
Apr. 13 -The Foreign Investment Promotion Board (FIPB) has asked the Department of Revenue to lessen its scrutiny of foreign direct investment proposals to cut delays. Following FIPB rules, a proposal need only to be vetted by the original ministry and any related ministry when recommended by the board. Official sources said that the Department […]
Monorail Manufacturers Concentrate on India’s Infrastructure Boom
Apr. 12 – As the Indian economy develops, the need for massive improvements in its transportation network also increases. With Mumbai’s first monorail service about to be launched and those familiar street level cantilevered rail lines now weaving their way above the city’s roads, other places in the country have already started taking notice. All […]
India Reconsidering FDI in Multi-Brand Retail, Hamleys Moves In
Apr. 12 – India is considering opening multi-brand retail to more foreign direct investment with the Department of Industrial Policy and Promotion (DIPP) in talks with the Finance and Agricultural Ministry on the issue. “The move to open up retail sector is part of the government’s strategy to plug gaps in the existing food supply […]
India Prohibits FDI in Cigarette Manufacturing
Apr. 9 – The Indian government is officially prohibiting foreign direct investment in the cigarette manufacturing sector with the ban applicable even in tax-free special economic zones. Cigarette manufacturing will now be on the prohibited list of FDI. “FDI will be prohibited in the manufacture of cigarettes, whether it is for domestic consumption…or for exports,” […]
Higher Withholding Tax for those with No Permanent Account Number
Apr. 8 – Beginning this month, tax deducted at source on payments will be higher for taxpayers providing no permanent account number (PAN). The higher withholding tax rate of as much as 20 percent for taxpayers with no PAN is aimed at improving tax management and compliance. Taxes are required to be withheld at withholding […]
