Other Briefings
Rupee Hits Record Low for Sixth Straight Day
May 23 – The Indian rupee hit a record low for the sixth straight day on Wednesday, slumping to 56.18 against the dollar despite the Reserve Bank of India’s likely intervention earlier in the day in a mild attempt to prevent further falls. The RBI is thought to have intervened at 55.79, which saw the […]
GST Roadblocks Continue to Impede Progress in India
By Sofia Liska May 22 – India has been trying to shift from consumption taxation to the goods and services tax (GST) for some time now. Unfortunately, there are a few obstacles that have continued to impede the progress of this transition. This article will discuss those obstacles. It is important to know that the […]
Foreign Workers Permitted to Withdraw from Provident Fund
Overseas workers are permitted to withdraw the entire amount standing to their credit in the fund in the situations listed here.
India Issues Re-Assurances over Tax and Retroactive Legislation
India’s Finance Minister Pranab Mukherjee has scotched media reports concerning the intentions of India’s new tax regulations, and has pulled back on GAAR until April 2013.
India Issues Ruling on Transfer Pricing Aspect of Royalty Payments
The High Court has ruled that royalty payments cannot be prohibited on instances of continuous loss where the spending was proven to be incurred “wholly and exclusively” for the purpose of the business of the Taxpayer.
Small Firms and Individuals May Be Exempt from GAAR, Postponement Also Possible
In an attempt to soften the blow of the General Anti-Avoidance Rules (GAAR), India’s Finance Ministry is considering postponing the implementation of the new regime and may completely exempt small firms and individuals.
Rupee Drops to Lowest Level Since January
Apr. 25 – India’s rupee closed at 52.68 to the U.S. dollar on Tuesday after briefly falling to 52.865, marking its lowest level in three and a half months. Experts believe the country’s wide current account deficit, stalled financial reforms, and doubts over monetary easing have all led to the rupee’s drop in value. “At […]
RBI Cuts Repo Rate, Sensex Surges
Apr. 17 – The Reserve Bank of India cut its short-term lending rate by a greater-than-expected half a percentage point today, raising hopes of cheaper home, auto and corporate loans and sending the Bombay Stock Exchange’s benchmark Sensex to surge by 207 points. The rate reduction down to 8.0 percent was the first time the […]
