Other Briefings
India Approves Rs.9.3 Billion E-Courts Project
Sept. 20 – India has approved a Rs.9.3 billion project that will help modernize and streamline its judiciary. The E-Courts Project will let people easily verify information on case status and verdict as well allow video conferencing facilities at courts and prisons. The project is part of government efforts to establish an National e-Governance Plan […]
New Simplified Labor Law Cleared Today
Sept. 17 – Today India approved the newest version of the labor law that simplifies procedures; helping small business file returns easier. The Labor Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Amendment Bill 2010 was approved by India’s Cabinet and will be submitted next to Parliament. Under the new law, small […]
India Approves 11 Special Economic Zones
Sept. 17 – The Indian government gave the go signal to establish 11 special economic zones in the country with five of the IT related zones located in Karnataka in southwest India. Ten of the SEZs have been officially approved while one was given an in-principle approval for a pharmaceuticals SEZ to be built by […]
Business Group Recommends Changes to FDI Real Estate Rules
Sept. 16 – India should revise its regulations on foreign direct investment in the real estate sector to liberalize the industry and streamline the approval process for projects according to a study by the Federation of Indian Chambers of Commerce and Industry and Ernst & Young. The study, scheduled for release today, also recommended that […]
India to Consider Taxing Subsidiary Mergers
Sept. 15 – Government revenue authorities in New Delhi are considering taxing subsidiaries merging with their parent companies with a stamp duty ranging from 0.15 percent to 6 percent. This may mean that the Indian Stamps Act 1899 that exempts stamp duty when a subsidiary merges with its parent company risks being dissolved when the […]
New FDI Rules for Joint Ventures Proposed
Sept. 14 – Indian authorities are reconsidering rules on foreign direct investment for joint ventures in an effort to increase the inflow of new investment in the country. Currently, foreign investors who entered joint ventures in India before January 12, 2005 are required to seek prior government approval and prove that the new infusion of […]
Vodafone Tax Case Sets Landmark Precedent
Sept. 13 – The Mumbai High Court ruling on the Vodafone case is expected to set a landmark precedent for cross-border deals in the country. It marks the first time that an Indian court has ruled in favor of tax authorities, allowing them to charge a foreign company capital gains tax for a transaction that […]
Court Ruling: Overseas Payments Not Liable to Tax
Sept. 10 – India-based companies are not liable to deduct tax on overseas payments according to the latest Supreme Court on the subject. This overturns the income-tax department’s earlier decision on the contrary and is a huge relief for many local and foreign companies based in India. More importantly, it formally clarifies the tax law […]
