Other Briefings
New Construction Services Tax to Increase Real Estate Prices
Mar. 9 – A proposal to implement a construction tax under the new services tax will invariably hike prices for real estate projects still under construction or pending approval from authorities. The tax would apply to the construction of complex service or commercial or industrial construction services as well as services offering premium prices based […]
New Delhi Best City for Living
Mar. 9 – The Confederation of Indian Industries has ranked New Delhi as having the best quality of life for its residents among all cities in the India based on their latest “Liveability Index.” After New Delhi, the next best cities to live in are Mumbai, Chennai and Bangalore. The survey looked at 37 Indian […]
Karnataka State Budget Tax Proposals for 2010-11
Mar. 8 – The following are highlights of tax proposals submitted for the Karnataka State Budget 2010 -11 ranging from commercial taxes to luxury tax and entry tax. Value added tax VAT exemption on paddy, rice, wheat, pulses and products of rice and wheat extended for one more year beginning January 4, 2010 Tax on […]
New Document Format Needed for Adopting International Financial Reporting Standards
MUMBAI, Mar. 5 – India will soon adopt the International Financial Reporting Standards (IFRS) system with the government requiring that all companies shift to the new standards beginning April 1, 2011. This is a radical change that companies will have to prepare for by making sure that their accountants are adequately trained with the new […]
No Tax Breaks for Telecom Companies with 3G Services
Mar. 4 – Telecommunications companies with 3G services will no longer be allowed to avail of tax breaks found under Section 80 IA of the Income Tax Act. The tax breaks under Section 80 IA are given to companies building infrastructure. In the telecommunications sector, companies can choose a 10 year period out of the […]
India’s New Development Sutras
OP/Ed Commentary: Chris Devonshire-Ellis Mar. 4 – In discussions with Gajendra Haldea, the advisor to the Deputy Chairman of Infrastructure Planning Commission, and with Dhanendra Kumar, the Chairman of the Competition Commission of India, two things stood out as the mantras for the execution of public-private partnerships. Firstly, that the Indian government knows full well […]
India Earmarks US$400 million for Rural Broadband
Mar. 4 – The Indian Government is to spend US$400 million over the next three years to enable broadband to reach more than 265,000 rural Indian villages, making the country one of the most densely interconnected populations on the planet. The formation of a Group of Ministers (GoM) to monitor and review the implementation of […]
India Set to Outpace Other Emerging Markets
Mar. 3 – Investor Mark Mobius of Templeton Asset Management recently expressed the opinion that Indian shares may “outpace” other emerging nations as the country continues to show strong economic progress. “India’s macroeconomic fundamentals have significantly improved,” he said during a question and answer session on the company’s website while discussing the future of the […]
