To curb the formation of shell companies, which are located abroad but controlled from India, to evade taxes, the government has amended the income tax act by introducing the concept of ‘place of effective management’. Following the amendment, all such companies would be taxable in India even if they are incorporated abroad but their key […]
Section 11AC of the Excise Act has been amended for similar cases and the taxpayer can now pay the duty along with a penalty of 10 per cent of the duty.
This means companies like TripAdvisor, who act as aggregators, will have to pay the service tax, Mishra explained.
Leather footwear to get cheaper.
The government hopes that the GAAR deference will improve the ease of doing business and boost investor sentiment.
Packaged vegetables to get cheaper; life insurance scheme for elderly exempted.
The proposed legislation will make concealment of assets overseas and evasion of tax on them a prosecutable offence.
The department of heavy industry is collaborating with industry chambers to take inputs for the policy.
A major push is being planned for the electronic goods sector where the country imports electronic products worth $16 billion annually.
India’s exports to Canada stood at $2.03 billion in 2013-14 while imports stood at $3.14 billion during the year.
Encouraged by a couple of CCI rulings, desperate Customers who hoped for similar orders are realising most cases fall outside the commission’s domain.
Last month, the ED had summoned PIA to “explain” the purchase of the properties and submit documents pertaining to the case.
Imports of critical capital goods and machinery too see a decline.
The promotion of the electric and hybrid vehicles is part of the National Electric Mobility Mission Plan (NEMMP) 2020.
Enforcement directorate is probing the allegations that Pakistan International Airlines had violated provisions of the Foreign Exchange Management Act.
Indian Express investigation has revealed 1,195 Indian HSBC clients, roughly double the 628 names that French authorities gave to the Government in 2011.
IT department is considering accepting some suggestions of the TARC, especially those pertaining to the AAR.
The government has set an ambitious target for rolling out the tax.
The ‘conservative’ approach on tax refunds is, however, likely to help swing deficit numbers in government’s favour in the last quarter.
Junglee.com is focussed on capitalising the mobile and internet penetration and bringing small sellers online.
Phil Shaw, chief executive, Lockheed Martin India, in an e-mail interview elaborates on the company’s strategy for its growth in India.
As foreign firms in the defence sector prepare to reap benefits from ‘Make in India’, there are concerns on India’s defence offset policy and lack of infrastructure, which need to be addressed to harness the true potential. Boeing India president Pratyush Kumar, in an interaction with Shruti Srivastava, discusses the firm’s India strategy and concerns […]
IPA said that country’s intellectual patent regime conforms to the WTO norms.
Companies are responding positively to the CEO-like focus of the PM on domestic economy, said Farrell.
With manufacturing growth, rented housing is necessary to accommodate the spurt in migrant workers.
Apart from those travelling with Obama for the CEOs meeting, several top American CEOs are travelling to India separately.
Heavy industry, shipping, IT make a case for subsidies, tax breaks.
Ministry is also considering whether business restructuring done abroad can be excluded from the retrospective amendments relating to indirect transfers.
To urge the US for not extending the provisions of the country’s Border Security Act — which almost doubled the H1B and L1 visa fees — beyond 2015.
Multiple ‘rules of origin’ norms & ‘negative lists’ creating problems.
As rising mobile and Internet penetration pushes growth Amazon India is focusing on creating mobile-first experience for shopping online.
India is estimated to have over 243 million Internet users and 185 million users accessing the Internet using their mobile devices.
Reigning high realty prices take the sheen off premium segment.
The UPA-II had reduced excise duty on small cars to 8 per cent, SUVs to 24 per cent.
The final integration with the common GST portal will happen only after the GST laws of both the Centre and states are ready.
The new model has adopted an enterprise-based definition, aligning the FDI policy with the BIT.