Other Briefings
Tamil Nadu Authorities Relax Rules to Attract Small Companies
Sept. 9 – Tamil Nadu authorities are revising rules at information technology parks located in Tier II cities to attract smaller companies to invest there. “Earlier it used to be 50 acres or 100 acres that was affordable to mid-size and large companies. Now, we are willing to give one acre to attract smaller companies […]
India to Sign FTAs with Malaysia, Japan
Sept. 8 – India is expected to formally sign free trade agreements with Japan and Malaysia by the end of the year. India’s Prime Minister Manmohan Singh is slated to be in the countries in October. “I am reasonably confident that we will sign the deal with Japan and Malaysia before the end of this […]
15,000 Companies in India Take Easy Exit Scheme
Set. 7 – An estimated 15,000 companies have opted to take the “easy exit scheme” proposed by the Ministry of Company Affairs (MCA), which cuts down on regulatory processes and costs. Of the companies applying, 1,815 are companies in finance and investment. The scheme allows companies to take out their names from the Register of […]
Lifting Restriction on Locally Reinvested Profits Proposed
Sept. 6 – Foreign firms must not be restricted in reinvesting their profits to local subsidiaries, according to a proposal submitted by the Department of Industrial Policy and Promotion. “If companies are not permitted to fund downstream investments from internal accruals, such funds can be distributed as dividends and then the eligible amount repatriated and […]
India to Monitor Internet, Telecom User Data
Sept. 3 – Indian authorities are requiring communication service companies like Google and Skype to allow access to user data within two months as part of government efforts to tighten security. The news comes after authorities threatened to ban Blackberry use in India if Research In Motion did not give them the ability to monitor […]
New Tax Code Proposes Investment-Linked Incentives
Sept. 2 – The Direct Taxes Code (DTC) Bill is suggesting that profit-linked incentives can be replaced with investment-linked incentives for businesses that currently enjoy tax cuts. If the proposal is approved, this may change incentives for special economic zone developers and businesses dealing with power, infrastructure, food processing, hotels and hospitals.
Commissioner of Service Tax Issues Notice on Online Registration
Sept. 1 – India’s Commissioner of Service Tax announced last month that online registrations for service tax assessees must be filed along with hard copies of the required documents. The agency said that non-compliance of document requirements have led to delayed registrations with more than 1,000 cases not even making the effort to submit any […]
India, Switzerland Agree to Change Tax Pact
Sept. 1 – Switzerland and India have agreed to make changes to their double taxation agreement (DTA). The revisions will allow Indian authorities more access to specific information that will serve to cut down tax evasion. “The revised DTA contains provisions on the exchange of information in accordance with the Organization for Economic Cooperation and […]
