In this era of globalisation, an individual’s earnings is often from across the border. He can be a resident of one country, but earning income from other countries in a particular financial year. Such a situation is an indicator of progress and increased opportunities for an individual. However, at the same time issues and complexities […]
By Arvind Rao / Neelam Rangwala / Drishti KhambhaytaAugust Consulting (India) Private Limited Since 2014, the Government of India has launched an ambitious program of regulatory reform aimed at making it easier to do business in India. As a result, the Ease of Doing Business in India (EODB) index, a ranking system established by the […]
The third protocol amending the existing India-Singapore Double Taxation Avoidance Agreement (DTAA) entered into force on Monday, Singapore’s tax authorities have said. This would mean that the provisions provided in the third protocol — signed in December 2016 — have become law in the island country. Singapore was the largest foreign direct investor into India […]
Supreme Court in case of Vodafone India held that gains arising to a foreign company from transfer of shares of a foreign holding company, which indirectly held equity interest in an Indian operating company would not be taxable in India. Pursuant to the Vodafone ruling, indirect transfer provisions were introduced vide the Finance Act, 2012 by amending section 9(1)(i) of […]
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The Government of India recently notified new rules to regulate medical devices in India. These rules, which come into effect on January 1, 2018, have been framed with the objectives of encouraging both foreign investment into India’s growing medical devices sector (where 100% foreign investment is allowed, without prior government approval), and the manufacture of […]
Since the Indian Budget Is the biggest financial & legal event of India (happens once a year) I am enclosing our publication on the same. This could be a good read for all our members especially those who do have India as a jurisdiction in mind. Thanks Best Regards, Suraj Nangia | Partner […]
REAL estate sector is one of the biggest employment generating sectors in India and accounts for a large portion of employment in the unorganised sector. However, in the past 12 to 18 months, the sector is experiencing significant hardship due to slowdown in demand. The recent demonetisation drive by the government is expected to have […]
Seeking to assuage investor concerns ahead of the implementation of GAAR from April 1 this year, the Central Board of Direct Taxes (CBDT) on Friday said the provisions of tax avoidance rules will not apply to a transaction that does not carry a tax benefit based on the jurisdiction it is routed through. It said […]
The fine print of the third protocol amending the India-Singapore double taxation avoidance agreement (DTAA) is finally out. A significant fallout is that Mauritius may now emerge as preferred jurisdiction for routing investments into Indian debt instruments compared with Cyprus and Singapore. This is because no changes have been brought in the latest Singapore Protocol […]
If anyone had suggested back in 2013, that India could rework its tax treaties with Mauritius, Cyprus and Singapore, giving it the right to tax capital gains – all in a span of three years – the idea would have been met with derision. Yet, India has managed to do just that, and nobody seems […]