Other Briefings
Rupee Surges as India’s Trade Deficit Narrows
Sept. 11 – Recent government data has shown that India’s trade deficit narrowed to US$10.92 billion in August (from US$12.27 billion in the previous month) due to higher exports and lower imports. In August, exports increased 12.97 percent to US$26.13 billion, the second straight month of double digit growth, while imports decreased 0.68 percent to […]
India to Set Up Tax Administration Reform Commission
Aug. 29 – On Monday, the Indian government set up its first Tax Administration Reform Commission, a seven-member panel that is to be chaired by well-known Indian economist Parthasarathi Shome. The Commission was created with the purpose to review India’s tax laws and make recommendations for the creation of a “stable and non-adversarial tax administration.” […]
The Falling Rupee Ushers in India as a Global Trade Dynamo
Foreign investors making surprise returns on investment, cheaper rupee good for exports Op-Ed Commentary: Chris Devonshire-Ellis Aug. 22 – With the Indian rupee falling to a record low of 65 against the U.S. dollar, there has never been a better time to purchase Indian manufacturing goods. For foreign investors in India, it is a boom […]
Rupee Falls to All-Time Low as Indian Economy Faces Potential Trouble
Aug. 22 – This week, the Indian rupee briefly closed at an all-time low of 63.25, making it Asia’s worst performing currency this year after dropping by 16 percent against the U.S. dollar since May. It is now worried that the measures taken by the Indian government and the Reserve Bank of India (RBI) to […]
Capital Gains Tax Exemptions on the Sale of House Property in India
Aug. 16 – Capital gains are profits that arise out of the transfer of a capital asset. In India, house property sales are considered taxable capital assets and are taxed appropriately as part of someone’s income taxes. Therefore, any gains derived from the sale of a house are taxable at India’s capital gains tax rate […]
Calculating Withholding Taxes in India
Aug. 9 – Withholding taxes are a government’s way of making sure that the proper taxes are paid on an item by way of either withholding or deducting the relevant tax amount from an individual’s or an enterprise’s income. They are of particular note to international companies doing business with India yet without a presence […]
India Extends Income Tax Filing Deadline to August 5th
India’s Ministry of Finance has extended the deadline for filing IIT in India from July 31st to August 5th Aug. 1 – “Due to large number of taxpayers accessing the e-fling website on the due date of filing, some cases of taxpayers not being able to access the e-filing portal have been reported. These problems […]
Could India Manufacture the iPad?
The reason for the introduction of the luxury tax is that India now wishes to discourage the importation of foreign products that do not add to India’s FDI or domestic manufacturing position – in my view a fair enough stance to take. But coupled with that is the question over Indian manufacturing capabilities. Could Indian companies manufacture the iPad? Are the competencies and financial strengths there?
