Other Briefings
India Tightens Eligibility Norms for Listing on the Bombay Stock Exchange’s SME Platform
Nov. 29 – India’s Bombay Stock Exchange (BSE) has issued new conditions for companies seeking to list on the BSE’s small to medium-sized enterprise (SME) platform. Companies seeking to be listed on this platform through initial public offerings (IPOs) are already required to comply with the quantitative eligibility norms prescribed by the BSE. Now, however, […]
India Amends DTAs with Spain and the United Kingdom
Nov. 21 – India has initiated the process to revise its double taxation avoidance agreements (DTAs) with over 75 countries in an effort to strengthen its legislative framework to control the black money generated domestically and the flow of such illegal funds to foreign countries. On October 26, India signed a protocol to amend the […]
India Set to Release GAAR Final Draft
The Indian government is likely to announce the final draft of the General Anti-Avoidance Rules (GAAR) within the next 10 days, according to the country’s Finance Minister P. Chidambaram.
Benefits of Furnishing a Permanent Account Number
Oct. 16 – As per Section 206 AA, any individual who receives any sum or income or amount on which tax is deductible shall furnish his/her permanent account number (PAN) to the tax deducting authority. Failure to furnish a PAN card will attract tax deductions at higher rates under the following terms: At the rate […]
Annual Audit and Compliance for Foreign-Invested Entities in India
Annual audit and compliance procedures are relatively simple for foreign representation entities compared to Indian setup entities. We outline all of these procedures in this article.
Asia Briefing Report: An Introduction to Doing Business in India
Asia Briefing, in cooperation with its parent firm Dezan Shira & Associates, has just released a new 30-page report introducing everything that a foreign investor should be familiar with when establishing and operating a business in India. This guide, titled “An Introduction to Doing Business in India,” is immediately available as a complimentary PDF download on the Asia Briefing Bookstore.
Time Extended for Reporting of Annual Accounts with Company Registrar in India
Sept. 11 – Reporting of the annual accounts and balance sheet for the financial year ending March 2012 can now be made in Schedule VI format, bringing Indian companies on par with global reporting standards. The reporting in extensible business reporting language (XBRL) is a mandate for companies having a paid up capital base of […]
GAAR Execution May Be Postponed to 2016-17
Sept. 5 – A specialist group on tax laws recommended that the Indian government postpone execution of the General Anti-Avoidance Rules (GAAR) until financial year 2016-17 and eliminate capital gains tax on securities transfers to ensure investment and capital flows. The group, appointed by the Prime Minister of India, suggested a series of steps which […]
