Other Briefings
Government Expands List of Operations in Special Economic Zones
Mar. 17 – The list of operations that can be carried out independently by special economic zone authorities has been expanded to include establishing space for banking and warehousing services. Previously SEZ developers were required to get approval for the latter. “It has been decided to further expand the list of default authorized operations…the development […]
FDI in Sensitive Sectors to be Scrutinized
Mar. 16 – India is considering draft rules that will allow authorities to implement extra scrutiny on foreign direct investment projects approved on the automatic route and included in the list of sensitive sectors. The Ministry of Home Affairs has been tasked to compile a list of sensitive sectors where FDI will be subject to […]
India’s Education Industry Opens to Foreign Universities
Mar. 16 – India may soon be the next major market for the global education industry as a proposal to allow foreign universities to open branches in the country was approved by cabinet. When the Foreign Education Providers (Regulatory) Bill is finally made into law by parliament, foreign universities will be able to enter the […]
New Cost Accounting Standards Applicable Beginning April 1
Mar. 15 – New cost accounting standards will be applicable starting April 1 with six of the 10 new standards to be made compulsory. The move is part of government efforts to improve cost auditing and more standards expected to be released in the next two years. Better cost audit mechanisms in place will lead […]
Karnataka Considers Global Financial District
Mar. 12 – Karnataka government is considering establishing a global financial hub in Devanahalli district located near Bengaluru International Airport. Senior officials from 45 banks, insurance companies and mutual funds have expressed interest in the district according to state minister for large and medium industries Murugesh Nirani. “We are looking at a public private partnership […]
Residential Status and Taxable Income in India
Mar. 12 – Computing for taxable income for individuals in India is based on residential status and the amount of time an individual stays in the country in the relevant financial year and the following 10 years. If an individual stays in India for 182 days or more during the tax year or 60 days […]
Indian Companies Forecast to Create 1 Million Jobs
Mar. 11 – Indian companies are expected to resume hiring from April to June with the organized sector forecast to create one million jobs by 2011 backed by the strength of the improving economy according to two global employment trend surveys. According to the Employment Outlook Survey compiled by the human resources consulting firm Manpower, […]
Computing for Financial Assets under the New International Financial Reporting Standards
Mar. 10 – When India adopts the International Financial Reporting Standards (IFRS) in 2011, many changes will need to be made including ensuring that company staff are properly trained to apply the new rules. Financial assets defined as a financial asset of one entity and a financial liability or equity instrument of another entity including […]
