Linking PAN & Aadhaar before March 31, is mandatory

It is mandatory to link Permanent Account Numbers (PAN) to Aadhaar by March 31, 2023. The last date to link Permanent Account Number (PAN) to Aadhaar is nearing soon. According to the Central Board of Direct Taxes (CBDT), the apex … Continued

ITR filing deadline for FY 2020-21 extended to December 31, 2021

The government on Thursday extended the deadline to file income tax return (ITR) for FY 2020-21 by 3 months to December 31, 2021 from September 30, 2021. The extension of the deadline is for those individuals whose accounts are not … Continued

India’s Forex reserves rise to lifetime high of $621.5 billion

The country’s foreign exchange reserves increased by $889 million to a lifetime high of $621.464 billion in the week ended August 6, 2021, RBI data showed on Friday.   In the previous week ended July 30, 2021, the reserves had … Continued

Cabinet approves MoU between ICAI and Chartered Accountants Australia and New Zealand

This provides an opportunity to the ICAI members to expand their professional horizons and to foster working relations between the two accounting institutes.The Institute of Chartered Accountants of India (ICAI) and Chartered Accountants Australia and New Zealand (CA ANZ) will … Continued

International Taxation: Decoding DTAA & Foreign Tax Credit

WHAT IS DOUBLE TAXATION OF INCOME? When the same income is taxed more than once,  due to levying of tax by two or more jurisdictions, on the same income asset or financial transaction, this results in double taxation. This may … Continued

Forex reserves increase by over $100 billion since March lockdown; hit lifetime high at $572 billion

Amid a severe hit to the Indian economy by the Covid pandemic in the past eight months, the country’s foreign exchange reserves increased by more than $100 billion since the Covid-induced lockdown was enforced in March-end. From $469.9 billion in … Continued

RBI notifies Discontinuation of Returns/Reports under Foreign Exchange Management Act

For improving the ease of doing business in India and to reduce the cost of compliance, RBI has made a review of requirements of submission of various forms and reports under FEMA and has decided to discontinue submission of 17 … Continued

Google to invest in people and partnerships in India as it catches up with Azure, AWS in cloud

Technology behemoth Google is investing heavily in people and partnerships to grab a larger share of the Indian Cloud market, as it takes on global rivals Microsoft, IBM and Amazon Web Services in the country, a top company executive said. … Continued

Govt approval must for all FDIs from neighboring countries including China, in same lines as made by several countries

The government has amended the Foreign Direct Investment (FDI) policy to discourage opportunistic investment in Indian companies by neighbouring countries in the midst of the Coronavirus pandemic. This comes after China’s central bank recently raised stake in Housing Development Finance … Continued

GSTN updates facility to claim Refund of ‘Excess Payment of Tax’

The Goods and Services Tax Network (GSTN) has updated a new functionality enabling the taxpayers to claim refund on account of excess payment of tax. “Facility to claim refund on account of excess payment of tax has been enabled on … Continued

India to remain fastest growing economy: ADB

India will continue to be the fastest growing major economy, ahead of China, with 7.3% growth rate in 2018-19 and 7.6% in 2019-20, the Asian Development Bank (ADB) said on Thursday. The growth in India will be driven by increased … Continued

GST refund drive extended till June 16

The Central Board of Indirect Taxes and Customs (CBIC) has extended the refund fortnight for fast track clearance of pending dues to exporters by two days till June 16. The central and state tax officials have already cleared refunds worth … Continued

Qatar looks to Asia for investment in its new post-blockade era

Qatar is looking to Asia for foreign investment in a “new era” for the country, following the blockade by a number of major Arab nations in June last year. Yousuf Mohamed Al-Jaida, the CEO of the Qatar Financial Center, a … Continued

Indian Economy seems to be on way to recovering from Demonetisation Disruptions, says IMF

IMF has underscored the significance of reforms in other key sectors like education, health and improving the efficiency of the banking and financial systems.   The Indian economy now seems to be on its way to recovering from disruptions caused … Continued

Private equity investors bring in deals worth $983 mn in January: Thornton

Private equity (PE) investors announced deals worth $983 million in January, a 23 per cent rise in value terms over last year, driven by big ticket transactions, says a Grant Thornton report. According to the assurance, tax and advisory firm, … Continued

Forex reserves rise to $421.72 bn

India’s foreign exchange reserves rose by $1.96 billion to $421.72 billion on February 16, compared to the previous week. Foreign currency assets (FCAs), which form a key component of reserves, rose by $1.925 billion from the previous week to $396.572 … Continued

Qatar economy resilient, continues to perform well, says Seetharaman

Qatar’s economy has proven its resilience and continues to perform well amid the blockade, improving local liquidity and gaining the confidence of international investors, said Doha Bank CEO Dr R Seetharaman. “The blockade (on Qatar by a quartet of nations) … Continued

Foreign investors pump $3 billion into capital markets, forex at record high in January

Foreign portfolio investors (FPIs) have invested a phenomenal $3 billion (close to Rs 18,000 crore) in India’s capital markets this month on expectations of high yields as corporate earnings are expected to pick up with the economy gathering momentum after … Continued

Investment in participatory notes hits 6-month high of Rs.1.5 lakh cr in December

According to SEBI data, the total value of P-note investments in Indian markets – equity, debt, and derivatives – increased to ₹1,52,243 crore at December-end from ₹1,28,639 crore at the end of November. Investments in domestic capital markets through participatory … Continued

Foreign investors pump $3 billion into capital markets, forex at record high in January

Foreign portfolio investors (FPIs) have invested a phenomenal $3 billion (close to Rs 18,000 crore) in India’s capital markets this month on expectations of high yields as corporate earnings are expected to pick up with the economy gathering momentum after … Continued

PE investments jump 55% to all-time high of $24 bn across 591 deals in 2017

Private equity firms invested $23.8 billion across 591 deals in 2017, making it the biggest year for PE investments in India, says a report. According to deal tracker Venture Intelligence, the investment value is 39 per cent higher than the … Continued

FPIs pump over Rs 19,700 crore in November, highest in eight months

Foreign investors pumped over Rs 19,700 crore into the country’s stock markets in November, the highest in eight months, mainly due to government’s plan to recapitalise PSU banks and surge in India’s ranking in the World Bank’s ease of doing … Continued

CBDT signs first ever two Indian APAs with Netherlands in Nov-2017

CBDT signs first ever two Indian APAs with Netherlands in Nov-2017. The total number of APAs entered into by the CBDT has gone up to 186       Press Information Bureau Government of India Ministry of Finance 01-December-2017 11:53 … Continued

M&M opens $230-m manufacturing facility in Detroit

Automotive major Mahindra & Mahindra broke fresh ground as an Indian multinational when it inaugurated its factory in the original Land of Automobile Manufacture, Detroit. As Executive Chairman, Anand Mahindra, and the Lt. Governor of Michigan, Brian Calley, cut the … Continued

CBDT signs 7 more unilateral APAs with taxpayers

The Central Board of Direct Taxes (CBDT) has signed seven more advance pricing agreements (APAs) with Indian taxpayers as it looks to reduce litigation by providing certainty in transfer pricing. The seven APAs signed over the last month pertain to … Continued

India should prioritise public banking sector reforms: IMF

India must prioritise implementation of public banking sector structural reforms, enhance the efficiency of labour and product markets, and modernise agriculture sector to accelerate its growth, the IMF said Friday. The country’s growth is expected to accelerate in the medium-term … Continued

India growing pretty robustly: World Bank President Jim Kim

India has been growing “pretty robustly”, World Bank President Jim Yong Kim has said as he predicted a strong global growth this year. Speaking at the Bloomberg Global Business Forum meeting here on Wednesday, Kim also called for more cooperation … Continued

FDI likely to rise further after GST: Moody’s

India is likely see increased foreign direct investment (FDI) inflows on the back of reforms such as introduction of the goods and services tax and the bankruptcy code, international ratings agency Moody’s said in a report on Monday. “Combined with … Continued

Nuclear deal between India and Japan opens up new vistas of cooperation

Prime Minister Shinzo Abe is visiting India nearly two months after operationalisation of the historic Indo-Japan civil nuclear deal, which has added a new dimension to bilateral ties that could scarcely be imagined in the wake of the 2011 Fukushima … Continued

India, Japan Ink 15 Agreements Including Aviation, Trade and Science

India and Japan on Wednesday signed 15 deals in key areas, including civil aviation, trade, science and technology, and skill development. The pact in the area of disaster risk management, entered into between the Ministry of Home Affairs and the … Continued

FPI inflows: India’s forex reserves all set to hit whopping $400 bn mark; here is how long it took and why

India’s foreign exchange reserves have climbed tantalizingly close to the $400-billion mark on September 1 on the back of strong foreign portfolio investments into the Indian market, especially the debt segment The reserves are hitting the psychological threshold also because … Continued

World Bank accepts many of Modi govt’s reform claims, big thumbs-up likely next month

The government expects a double-digit improvement in India’s rank in the global index on ease of doing business, likely to be announced by the World Bank next month. A senior official told ET that the World Bank had shared its … Continued

Forex kitty swells by $3.57 billion, closes in on $400 bn-mark

The forex reserves surged by a massive USD 3.572 billion to touch a record high of USD 398.122 billion for the week ended September 1, on account of rise in foreign currency assets, RBI data showed on Friday. In the … Continued

SEBI warns of rising external debt risks as masala bonds surge

The rupee-denominated bonds, popularly known as masala bonds, are likely to add to the nation’s external liabilities even if they don’t hold any risks to currency movement, a top Sebi official said on Wednesday. “When money flows into the country … Continued

CBDT signs 4 more APAs with taxpayers in August

The Central Board of Direct Taxes (CBDT) signed four more advance pricing agreements (APAs) in August with Indian taxpayers as it looks to reduce litigation by providing certainty in transfer pricing. The four APAs entered into during August, 2017 pertain … Continued

July GST collections of Rs 92,000 crore exceeded target: Finance Minister Arun Jaitley

Goods and services tax (GST) collections have exceeded estimates in the first month of the landmark levy’s rollout despite a significant number of assessees not having filed returns yet. “We seem to be comfortable… The redline has been crossed in … Continued

Forex reserves in India set to hit $400 bn mark; gain strongest in Asia

India’s foreign exchange reserves are set to hit the $400-billion mark. It already touched a new high of $393.61 billion as on August 11, 2017, and the pace of forex reserves accretion has been the strongest since 2005. The gain … Continued

SME lending: YES Bank ties up with US-based OPIC, Wells Fargo

YES Bank has teamed up with the Overseas Private Investment Corporation (OPIC) and Wells Fargo on an agreement to lend up to $150 million to small and medium enterprises (SMEs) in India. Under the agreement, OPIC will provide $75 million … Continued

Foreign exchange reserves in India hit record high of $382 bn, grows 6% in 2017

Foreign exchange reserves touched a record high of $381.96 billion as on June 16, compared $381.16 billion in the previous week, the Reserve Bank of India said in its weekly statistical supplement on Friday. Foreign currency assets (FCAs), the largest … Continued

PE/VC investments hit 10-year high at $3.1 bn in May

Private equity and venture capital (PE/VC) investments have recorded the highest monthly investments in the past 10 years at $3.1 billion in May 2017. For the third consecutive month in a year, the investment flow crossed the $2-billion mark.   … Continued

Central Board of Direct Taxes cuts profit margin for safe harbour rules

Given the lukewarm response to the safe harbour mechanism for transfer pricing, Central Board of Direct Taxes (CBDT) on Thursday cut the operating profit margin for information technology-enabled services, knowledge process outsourcing services (KPOs) and research and development (R&D) related … Continued

Foreign investors pour in $4.2 billion in May, mostly in Debt

Foreign investors have pumped $4.2 billion in the country’s capital market in May due to finalisation of GST rates for bulk of the items and prediction of a normal monsoon. Interestingly, most of the funds have been invested in the … Continued

FDI in services sector up 26% to $8.68 billion in FY17

FDI inflows in the services sector rose by about 26% to $8.68 billion in 2016- 17 with the government taking steps to improve ease of doing business and attracting foreign investments. The services sector, which includes banking, insurance, outsourcing, research … Continued

Finnish companies looking for new opportunities in India

India is becoming one of the favorite destinations for investments in manufacturing, clean tech, infrastructure and hi-tech for Finnish companies. Nina Vaskunlahti, Ambassador of Finland to India, in an interview with BusinessLine said, “There is increasing interest in economic cooperation, … Continued

Sensex crosses 30,000 mark, Nifty ends at record 9,351.85

With mixed positive sentiments among investors and unabated funds inflows in both global and domestic rallies, markets created yet another milestone in the stock trading history on Wednesday. The benchmark Sensex ended with new and all-time high of 30,133.35 for … Continued

UrbanClap receives Rs 20 Crore as NCD from Trifecta Capital

Home service startup UrbanClap has raised Rs.20 Crore of debt funding from California-Based Trifecta Capital through Non-Convertible Debentures. A Non – Convertible debenture or NCD do not have the option of conversion into shares and on maturity, the principal amount … Continued

Medical tourism is forex top spinner

Medical tourism has been the largest contributor to India’s total health services exports, accounting for 70 per cent of the total revenues of $890 million earned in 2015-16, according to the first comprehensive government survey on the sector. Asian countries, … Continued

SoftBank infuses Rs 1,675 crore in Ola Cabs; fresh funds to help Bengaluru co take on rival Uber

Japanese investor SoftBank has pumped in about Rs 1,675 crore in fresh funding in Indian transportation startup Ola to give it more muscle to take American rival Uber head-on. SoftBank subsidiary SIMI Pacific Pte picked 12,97,945 shares valued at Rs … Continued

India eases rules to allow merger of Indian companies with foreign firms

India will allow local companies to merge with overseas firms, easing rules to help home-grown businesses restructure their expanding global operations, and pave the deck for more listings of securities on capital markets abroad. “Until now, only inbound mergers were … Continued

SEBI set to block P-Note route for NRIs to prevent laundering of black money

The regulator plans to put in place a clear bar on non-resident Indians (NRIs) and entities owned by them and resident Indians subscribing to participatory notes, a move aimed at preventing possible round-tripping or laundering of black money. The Securities … Continued

India Inc’s March M&A deal tally jumps 4-fold to $28 billion

India Inc’s M&A deal tally in March rose four-fold to $27.82 billion, led by the Vodafone-Idea merger, taking the overall figure to $31.54 billion in the first quarter of 2017, says a report. Overall deal activity in the January-March quarter … Continued

FIPB approves 9 FDI proposals worth Rs 659 crore

Inter-ministerial body FIPB has approved nine investment proposals, including those of Netmagic Solutions and Vodafone, totaling a foreign investment of Rs 659 crore. “Based on the recommendations of the Foreign Investment Promotion Board (FIPB) at its meeting held on February … Continued

Forex reserves up $2.67 bn to $366.78 bn

India’s foreign exchange reserves surged by whopping $2.671 billion to $366.781 billion for the week ended March 2017 on account of increase in foreign currency assets, the Reserve Bank said today. In the previous week, the reserves had risen by … Continued

India, Russia to set up $1 bn fund to promote business:Nirmala Sitharaman

India and Russia are setting up a USD 1 billion fund to promote mutual investments in infrastructure and technology projects, Commerce and Industry Minister Nirmala Sitharaman has said. Both the countries would contribute USD 500 million to the fund, Sitharaman … Continued

Gujarat’s foray into B2B ecommerce gives big push to small units

Gujarat government has entered into B2B ecommerce space as it allowed UK-based cloudbuy.com to develop B2B marketplace for accelerating its growth in state business by supporting SMEs and larger organisations via digitalisation. According to a top official from the industry … Continued

FDI in services sector up 77.6% to $7.55 billion in nine months of FY17

Foreign investments in the services sector increased 77.6% to $7.55 billion in the first nine months of the current fiscal, helped by government steps to improve ease of doing business. The sector, which includes banking, insurance, research and development (R&D), … Continued

Fresh transfer pricing trouble for MNCs

A new provision for secondary adjustment in transfer pricing, announced in the Union Budget for 2017-18, is likely to affect the cash flow of multinational corporations (MNCs) and the dividend distribution tax paid by their Indian subsidiaries. The provision has … Continued

FIPB clears 15 FDI proposals worth Rs12,000 crore, defers 6

Inter-ministerial body, foreign investment promotion board (FIPB) on Tuesday approved 15 investment proposals, including that of Apollo Hospitals, Hindustan Aeronautics Ltd, Dr. Reddy’s Laboratories and Vodafone, envisaging foreign investment of Rs12,200 crore. “15 out of 24 FDI proposals were approved … Continued

Japan logs biggest current account surplus since 2007

Japan attained its second-biggest current account surplus on record in 2016, Ministry of Finance data showed on Wednesday, just days before the US and Japanese leaders meet for talks with trade surpluses and currency valuations expected to be high on … Continued

The govt has revised 40 tax treaties for information

India has revised 40 treaties for avoidance of double taxation so that the information exchanged with partner nations on tax matters can also be utilised for other purposes including criminal proceedings, Parliament was informed today. “Treaty partner countries have been … Continued

Tax avoidance rules: POEM norms to take effect from April, 2017

Confirming that India’s so-called POEM regulations — which are meant to ascertain the residential status of companies and use it to curb tax avoidance — will take effect from April 1, the Central Board of Direct Taxes (CBDT) on Tuesday … Continued

CBDT tightens screws on shell companies

The Central Board of Direct Taxes (CBDT) on Tuesday issued the much-awaited “guiding principles” for determination of a Place of Effective Management (PoEM) of a company, scotching speculation that the Budget may see its removal from the statute book. Put … Continued

India’s share of global economy to increase: Lars Heikensten, Executive Director, Nobel Foundation

India’s share of global economy to increase: Lars Heikensten, Executive Director, Nobel Foundation Lars Heikensten, executive director of the Nobel Foundation, said he expects India’s share of the global economy to increase while commenting on the role of the country … Continued

New Year GIFT for MNC law and audit firms

Foreign law and accountancy firms now have a chance to operate in India on their own. On January 3, the ministry of commerce and industry amended a rule allowing such foreign firms to set up offices and advise clients from … Continued

India, Cyprus seal revised tax treaty

India and Cyprus on Friday signed a new double tax avoidance pact under which capital gains tax will be levied on sale of shares on investments made after April 1, 2017, bringing the island nation at par with Mauritius in … Continued

UAE firm launches world’s 1st offsite manufacturing park in TN

The world’s largest and first fully integrated industrial park has been opened in Tamil Nadu by a NRI-owned multinational group based in the UAE that specialises in innovative offsite manufacturing technology. KEF Infra, the infrastructure subsidiary of KEF Holdings yesterday … Continued

Transfer pricing treaty for investors from cyprus

The government on Monday afternoon clarified that according to the amended Cyprus treaty, investors need to pay only 10% tax with retrospective effect from November 1, 2013, instead of the 30% tax they have already paid. While bringing in clarity … Continued

SoftBank to invest $1 billion in US venture OneWeb as part of $50 billion pledge

SoftBank Group Corp has agreed to invest $1 billion in US. satellite venture OneWeb Ltd, marking the first tranche of a $50 billion US. investment the Japanese telecoms and technology company’s founder Masayoshi Son pledged to President-elect Donald Trump.   … Continued

Philippines fastest-growing economy in developing Asia

The Philippine economy grew at its fastest pace in three years last quarter, underscoring the nation’s resilience to global risks as investment surged and consumers spent more. Gross domestic product increased 7.1% from a year earlier, the Philippine Statistics Authority … Continued

Foreign direct investment jumps 77.5% to $5.15 billion in September

With the government relaxing FDI policy and taking steps to improve ease of doing business, the Foreign Direct Investment in the country increased by 77.5 percent to USD 5.15 billion in September this year. In September 2015, the FDI had … Continued

PM Narendra Modi, Shinzo Abe sign landmark India-Japan Civil Nuclear Deal

Prime Minister Narendra Modi, today met with Japan Prime Minister Shinzo Abe and signed the Civil Nuclear Deal between India and Japan. PM Narendra Modi, after signing the deal said, “Our strategic partnership is not only for the good & … Continued

India, UK set to sign GBP 1 bn biz deals

India and the UK are expected to sign business deals exceeding GBP 1 billion (Rs 83,00 crore) during the three-day visit of British Prime Minister Theresa May, who is here on her first bilateral visit outside Europe since assuming office … Continued

DIPP notifies 100% FDI in more financial services

DIPP notifies 100% FDI in more financial services The commerce and industry ministry notified 100 percent foreign direct investment in ‘other financial services’ carried out by NBFCs.   The move will help attract foreign capital into the country. “The government … Continued

Ease of doing business: India banks on ‘remarkable work’ to improve World Bank ranking

As the World Bank looks set to release its annual ranking of countries in the ease of doing business later this week, India expects to improve its position from last year’s 130 out of 189 economies. The optimism stems from … Continued

Foreign VCs can now invest in unlisted firms sans RBI nod

Foreign venture capital entities can now invest in unlisted Indian companies without Reserve Bank of India approval. The venture capital firm will, however, have to be registered with market regulator SEBI. The investment can be made in an Indian company … Continued

FPI inflows top Rs. 20,000 cr in Sept, at 11-month high

Foreign investors pumped in more than Rs. 20,000 crore into the capital market in September, making it the highest net inflow in 11 months. This also marks the third consecutive month of positive inflows (equity and debt). The trend is … Continued

Forex reserves hit fresh all-time high, cross $371 billion

The country’s forex reserves continued to scale new highs, with the week to September 9 adding $3.513 billion to the kitty, which hit a new life-time peak of $371.279 billion, RBI data showed today. The reserves had increased by $989.5 … Continued

FPIs infuses $1 billion in capital markets in September

Foreign investors have pumped in nearly Rs 6,800 crore (USD 1 billion) into the country’s capital markets so far this month, driven by global and domestic factors. The latest infusion comes on top of a whopping inflow of Rs 25,904 … Continued

Kaya acquires “beneficial interest” in 2 UAE skincare firms

Skincare firm Kaya Ltd today said it has acquired majority “beneficial interest” in UAE’s Minal Medical Centre and Minal Specialized Clinic Dermatology for an undisclosed sum. “Kaya Middle East, DMCC, a foreign subsidiary of Kaya Ltd has entered into an … Continued

British Columbia first foreign govt to issue masala bond

Canada’s Province of British Columbia has become the first foreign government entity to issue a masala bond by floating Rs 500 crore rupee denominated overseas bonds on the London Stock Exchange. The bond raised $75 million (about Rs 500 crore) … Continued

Second instalment of FDI reforms cleared

The Union Cabinet today approved the second instalment FDI of reforms, which the Centre has announced in June covering diverse sectors including Defence, food-processing, single brand retail and broadcasting. The ex-post-facto approval for the reforms in the Foreign Direct Investment … Continued

FPI equity buys in India touch $5.4 bn this year

Foreign portfolio investors (FPIs) have bought equities worth $5.4 billion in the Indian markets in 2016 so far, according to data obtained from Bloomberg. This makes India the third biggest destination for FPIs after Taiwan and South Korea which have … Continued

Commerce ministry eases rules to promote exports

The commerce ministry has relaxed certain norms to promote outbound shipments and manufactured products from export-oriented units (EoUs), software technology parks of India (STPIs) and electronic hardware technology parks (EHTPs). The norm of mandatory warehousing requirement for EoUs and software … Continued

Forex reserves at record high of $ 365.74 billion

Continuing the rising trend, forex reserves increased by USD 253.6 million to touch record high of USD 365.749 billion in the week to August 5, the Reserve Bank said today. The reserves increased despite decline in foreign currency assets (FCAs), … Continued

Xiaomi, Foxconn to set up two more units in India

Chinese smartphone maker Xiaomi today said it is looking to set up two more manufacturing facilities in India through its Taiwanese contract manufacturer Foxconn Technology Group. Manu Jain, Xiaomi’s India Chief, said they are in talks with various state governments … Continued

Forex reserves hit life-time high at $365.49 bn

Country’s foreign exchange reserves rose by USD 2.81 billion to reach a life-time high of USD 365.49 billion in the week to July 29, helped by rise in foreign currency assets, the Reserve Bank said today. In the previous week, … Continued

CBDT signs bilateral APAs with Japanese trading firm arm

The Central Board of Direct Taxes has signed bilateral advance pricing agreements with Indian arm of a Japanese trading company, a move that will help bring down transfer pricing disputes relating to intra-group transactions. “The Central Board of Direct Taxes … Continued

FDI inflows rise 7% to $10.55 bn in Q1

Foreign direct investment (FDI) inflows grew 7 per cent to $10.55 billion during the first quarter against $9.88 billion in January-March 2015. According to the Department of Industrial Policy and Promotion (DIPP) data, the sectors, which attracted maximum FDI during … Continued

Foreign capital flow into EMs climbs to $25 billion

Emerging markets (EMs) have witnessed an inflow of $25 billion from foreign portfolio investors in this month so far, says a report. Equity flows were the dominant driver this month, with an estimated $14.6 billion in inflows, while debt flows … Continued

Cairn India to invest in existing projects

Cairn India, the petroleum exploration arm of London-listed Vedanta Resources, plans to continue investing in its existing projects to enhance domestic hydrocarbon production despite tough operating conditions and uncertain economic environment mainly because of strong demand outlook for the commodities. … Continued

Central Board of Direct Taxes (CBDT) signs seven Unilateral Advance Pricing Agreements (APAs)

The Central Board of Direct Taxes (CBDT) entered into seven (7) Unilateral Advance Pricing Agreements (APAs) today, i.e., 18th July, 2016, with Indian taxpayers. Some of these agreements also have a Rollback” provision in them.   The APA Scheme was … Continued

Government disburses Rs 1,433 crore as interest subsidy to exporters

Government has disbursed Rs 1,433 crore up to March under the interest subsidy scheme to exporters, the Commerce Ministry today said. The Centre’s interest equalisation scheme, announced last December, reduces cost of capital by allowing 3 per cent interest subsidy … Continued

Temasek scouts for more investments in India

Temasek Holdings, Singapore government’s investment company, will continue to scout for investments across consumption-oriented segments in India this year, even as it’s open to opportunities from other sectors. In the previous year, the company’s bigger investments were in consumption-oriented segments … Continued

Brexit to hit eurozone growth, says IMF

The International Monetary Fund has cuts its economic growth forecasts for the eurozone in the wake of the UK’s vote to leave the European Union. The eurozone is expected to grow by 1.6% this year and 1.4% in 2017. Before … Continued

No World Recession From Brexit But Risks High, Says IMF’s Lagarde

International Monetary Fund chief Christine Lagarde said that Britain’s shock vote to quit the European Union has injected significant uncertainty into the global economy but is unlikely to cause a world recession. But in an exclusive interview with AFP, she … Continued

Brexit offers lifeline on $800 billion emerging company debt

Britain’s vote to exit the European Union (EU) has thrown a lifeline to emerging-market companies facing an $800 billion wall of maturing debt. By hindering the Federal Reserve’s plan to raise interest rates, the referendum result has led to speculation … Continued

PE exits set to see new record through IPOs this year

With RBL Bank and Aster DM Healthcare planning to raise Rs 1,500 crore and Rs 1,600 crore, respectively, through initial public offerings (IPOs) this year, private equity investors are set to make a record exit using the primary market route. … Continued

JPMorgan Chase & Co gets RBI approval to open 3 new branches

JPMorgan Chase & Co today said it has received Reserve Bank’s approval to open three more branches in the country. The bank will open new branches at New Delhi, Devanahalli (near Bengaluru) and Paranur (near Chennai) in the next few … Continued

ASUS betting big on India market

Peter Chang, Regional Head (South Asia) of ASUS and Country Manager (ASUS India), at the opening ceremony of India’s first exclusive Republic of Gamers (ROG) store in Kolkata, on Friday Ashoke Chakrabarty. Taiwanese laptop and smartphone-maker Asus is looking to … Continued

Cisco steps up India investments

Global networking major Cisco, which has set aside a corpus of $280 million for funding early stage start-ups in India, has invested in Kolkata-based Videonetics Technology Pvt Ltd, a video surveillance firm that designs, develops and provides ultra-modern surveillance products … Continued

Indian solar energy to get $1 bn from World Bank

The World Bank Group signed an agreement with the International Solar Alliance (ISA), consisting of 121 countries, led by India. It has committed to provide $1 billion support to Indian solar energy projects. The World Bank-supported projects include solar rooftop … Continued

India jumps 19 places in World Bank’s logistics performance index

India’s logistics performance at its key international gateways has improved in the last two years, according to a World Bank report released on Tuesday. In the World Bank’s biennial measure of international supply chain efficiency, called Logistics Performance Index, India’s … Continued

Abu Dhabi banks in talks to form largest West Asia lender

National Bank of Abu Dhabi (NBAD) PJSC and First Gulf Bank (FGB) PJSC said they’re in talks to merge in a deal that would create the largest lender by assets in West Asia. A working group of senior executives from … Continued

Amazon India sees 250% annual growth in sellers

US-based Amazon on Friday said it had witnessed a 250 per cent year-on-year growth in bringing new sellers on board, as it looks to tap into the booming e-commerce market in India. The company, which is making multi-billion dollar investments … Continued

China’s debt more than double its GDP

China’s total borrowings were more than double its gross domestic product (GDP) last year, a government economist said, warning that debt linkages between the state and industry could be “fatal” for the world’s second largest economy. The country’s debt has … Continued

Airtel teams up with Singtel to expand data business in 325 cities globally

Bharti Airtel and Singapore Telecommunications (Singtel) have combined resources to form an Internet Protocol Virtual Private Network (IP VPN) to deliver high-speed, secure data network coverage to enterprise customers in Asia-Pacific, the Middle East, Africa, Europe and the US. The … Continued

Indian real estate may attract $2 bn investment from Japan

Japanese developers and private equity investors are looking to enter Indian property market and could invest at least USD 2 billion over the next three years in residential as well as industrial projects, says JLL.   Realty consultant JLL India … Continued

US, Europe combined infra spending less than China’s

Despite a crying need for better infrastructure, investment in it has actually fallen in 10 major economies since the financial crisis, including the US, according to a new study by the McKinsey Global Institute. Meanwhile, China is still going gangbusters … Continued

S&P: Renewable energy biz high-growth area in India

Renewable energy business is a high-growth area in India, though falling asset prices and competitive bidding for new power purchase agreements may lead to volatility in returns on investments, S&P Global Ratings said today.   “We believe the renewable energy … Continued

FIPB clears FDI proposals worth Rs 710 crore

Foreign Investment Promotion Board (FIPB) today approved four FDI proposals entailing overseas investment of about Rs 710 crore. The proposals approved included Advanced Enzyme Technologies’ foreign investment worth Rs 480 crore, a Finance Ministry official said. The Board also cleared … Continued

US firm 8minutenergy to build solar facility in India

A US renewable energy company, 8minutenergy Renewables LLC, will set up 4 GW of solar power capacity in India.“8minutenergy Renewables will pursue a 4 GW solar photovoltaic project pipeline in India,” a statement from the White House said. “These utility-scale … Continued

Modi impact! Switzerland to ease tax info exchange norms on stolen data

Switzerland today said it will relax norms for providing information to foreign nations seeking banking details about their citizens on the basis of ‘stolen data’, a move that would benefit India in its fight against the black money menace.   … Continued

India Agri Business Fund invests Rs 100 crore in Parijat Ind

Rabobank-promoted private equity fund ‘India Agri Business Fund II’ has invested around Rs 100 crore in agrochemical firm Parijat Industries to acquire a minority stake. Rabo Equity Advisors, the investment advisors for PE fund ‘India Agri Business Fund II’, announced … Continued

India, US to expand economic cooperation, break down trade barriers

India and the US today vowed to expand economic relation between the two nations and explore new opportunities to break down barriers to facilitate movement of goods and services. The leaders of the two countries resolved to pursue US- India … Continued

Japan banks enter ranks of biggest energy lenders

Japanese banks, known for the risk-aversion that spared them the worst of the credit crisis, have quietly grown into some of the world’s largest energy lenders. Mitsubishi UFJ Financial Group Inc (MUFG), Japan’s largest bank, disclosed last month it has … Continued

After Italy & Greece, PE seeks to partner Indian lenders for bad loan portfolio

Storied asset manager KKR & Co has approached lenders like State Bank of India and ICICI Bank with a proposal to manage and create value from their loan portfolios to under-performing Indian companies. The American private equity investor will build … Continued

SEBI to make it easier for fund managers to move to India

To make it easier for the foreign fund managers keen to relocate to India, markets regulator SEBI is considering allowing them to function as ‘Portfolio Managers’ under an easier regulatory regime. The move assumes significance in the wake of the … Continued

No funding for Adani project, says Australia PM

There will be no government funding for Adani’s $21.7-billion coal mine project, Australian prime minister Malcolm Turnbull said on Friday as he sought to assure a protester in fish costume that he took climate change “as seriously as you”. Turnbull … Continued

Danish companies keen to take part in Make in India

Denmark-based companies such as Danfoss, Grunfdfoss, sRamboll, Novo Nordisk and Novozymes are eyeing the benefits of Narendra Modi’s Make-in-India programme to set up their base in the country.   Indian ambasssador to Copenhagen Rajeev Shahare said Denmark has embarked on … Continued

Japanese investors keen on India’s infra growth story: Arun Jaitley

TOKYO: Japanese conglomerate SoftBank and a number of investors here have shown keen interest in investing in India’s “infrastructure growth story”, Finance Minister Arun Jaitley said today as he kicked off his 6-day visit to Japan aimed at attracting investments … Continued

FinMin eases reporting rules for FATCA

The finance ministry has eased certain rules in reporting by financial institutions to comply with an agreement between India and the US for implementing the Foreign Account Tax Compliance Act (FATCA). Financial institutions had told the government it was difficult … Continued

Intangible MNC assets may be taxed in case of a global merger and acquisition

A recent clarification by the government has created a stir among some multinationals which are concerned that their Indian entities might be taxed even in case of a global merger and acquisition with another global company. More so, the worry … Continued

Amazon sets the pace for e-commerce in India

Seattle-based e-commerce giant Amazon should be happy that even before it turns three in India on June 5, the company has emerged a leader in this market. Before rivals can protest, we are not talking numbers yet. The American player … Continued

Tanzania plans to invest $1.9 billion each year in energy projects by 2025

Tanzania plans to invest $1.9 billion each year by 2025 in energy projects in a bid to end power shortages and boost industrial growth in East Africa’s second-biggest economy, its prime minister said. Tanzania aims to boost power generation capacity … Continued

EU seeks to make it easier to buy online from other countries

Online retailers would be banned from stopping a customer in one EU country buying from a website based in another, under a proposal issued on Wednesday to make it easier for consumers to shop across the bloc. The European Commission … Continued

India: PE firm Nalanda Capital to raise $620m for third fund

Private equity firm Nalanda Capital has registered with the US market regulator Securities & Exchange Commission to raise $620 million for its new fund, according to an Economic Times report citing sources. This will take the total corpus raised by … Continued

Sumitomo likely to acquire 44% stake in Excel Crop Care

Japanese conglomerate Sumitomo is at an advanced stage of negotiations to acquire a substantial equity stake in Excel Crop CareBSE -0.87 % , a Mumbai-headquartered listed company. The proposed deal could pave the way for the Japanese group to own … Continued

Commercial realty witnesses rising interest from private equity funds

The commercial real estate sector is witnessing increased interest from private equity funds, with several large institutions focusing on completed and leased commercial assets for investment. In 2015, private equity real estate firms deployed more than $5 billion in Indian … Continued

India, Mauritius to amend tax treaty

India will levy capital gains tax on investments routed through Mauritius from April 1 next year, bringing down the curtains on a contentious three decade-old rule that allowed companies to bring in billions of dollars by paying negligible taxes. The … Continued

IRDAI gives approval to 23 cross-border reinsurers

The Insurance Regulatory and Development Authority of India (IRDAI) has granted special approval to 23 Cross Border Reinsurers (CBR) for the year 2016-17. This will allow Indian insurers to make reinsurance placements with a large number of reinsurers. Cross-border reinsurers … Continued

Silicon Valley venture capitalists raise more money, give less away

Venture capitalists are raising money at the fastest rate in a decade, raking in about $13 billion in the first quarter of 2016. But much of that cash won’t flow into new startups anytime soon. Rather, venture firms are bracing … Continued

IMF: Global corruption costs trillions in bribes, lost growth

Public sector corruption siphons $1.5 trillion to $2 trillion annually from the global economy in bribes and costs far more in stunted economic growth, lost tax revenues and sustained poverty, the International Monetary Fund said on Wednesday. In a new … Continued

Facebook revenue smashes expectations, rises more than 50 per cent as mobile ad sales surge

Facebook Inc’s quarterly revenue rose more than 50 per cent, handily beating Wall Street expectations as its wildly popular mobile app and a push into live video lured new advertisers and encouraged existing ones to boost spending. The company’s shares … Continued

China commends India’s GDP growth; says keen to invest more

China has complimented India for “doing a good job” in maintaining an impressive growth rate despite a global slowdown and is keen on working together to push for reforms in the international financial system to offset the inherent weaknesses. Stating … Continued

Government looks to resolve 100 transfer pricing issues; seeks to sign more advanced agreements

In a significant move towards a more progressive taxation policy the revenue officials have set an aggressive target of resolving about 100 transfer pricing issues by signing advance pricing agreements (APAs) with multinationals this fiscal, people close to the development … Continued

NRIs with offshore bank accounts cannot escape investigation by tax authorities

Even NRIs with offshore bank accounts cannot keep the taxman at bay by obtaining quick relief from the court of law. In order to prove their innocence, such persons will have to instruct the overseas banks to share information on … Continued

Korn Ferry to help Indian start-ups

US-based global management consultancy giant Korn Ferry Hay Group has embarked on an ambitious plan to support for free 100 start-ups from India that have potential to grow big, its CEO Stephen D Kaye said on Friday. Talking about the … Continued

Canadian fund commits Rs 1012 crore for renewable energy in India

CDPQ, which deals primarily in public and para-public pension and insurance plans, also announced the establishment of its Indian office in New Delhi. Canada’s institutional fund manager Caisse de depot et placement du Quebec (CDPQ) on Wednesday said it has … Continued

PE inflows from foreign funds in real estate up 33%

Total private equity investments from foreign funds in Indian real estate increased 33%, from $1,676 million (around R11,306 crore) in 2014 to $2,220 million (around R14,974 crore) in 2015, according to latest findings of global real estate consultancy Cushman & … Continued

StartUp India and Viacom18 join hands

Viacom18, the television media house that owns and runs channels Colors and MTV, has signed an agreement with the Union government’s department of industrial policy and promotion’s Start-Up India project. It will launch a year-long ‘outreach programme’ for entrepreneurs, called … Continued

Hong Kong eyes strengthening business ties with India

Pushing for an investment promotion agreement, Hong Kong today called for strengthening business ties with India and boosting bilateral trade. “India is Hong Kong’s seventh-largest trading partner globally, with bilateral trade of USD 23.7 billion last year. We are looking … Continued

RBI proposes easier access to foreign capital for start-ups

The Reserve Bank of India (RBI), in its sixth bi-monthly monetary policy statement, has proposed steps to improve ease of doing business for start-ups through easier access to foreign capital and by enabling smoother transfer of ownership. RBI Governor Raghuram … Continued

Foreign firms rush to India’s online marketplace

India’s booming online marketplace business has attracted a new wave of merchants and sellers from countries such as China, South Korea, Japan, Singapore and the US. In fact, thousands of sellers are getting into tie-ups with Indian e-commerce players to … Continued

I-T Department resolves over 100 transfer pricing cases of US companies

Indian tax authorities have resolved more than 100 cases of transfer prices with their US counterpart, involving companies from IT and ITeS sectors, in a move expected to give a boost to investment flows into the country. The Central Board … Continued

Foreign investment quality improves substantially with PM Narendra Modi’s Make in India push

The quality of foreign investment coming into the country has improved substantially, according to Reserve Bank of India data. Much of this is foreign direct investment (FDI) materialised in the September 2014-November 2015 period after Prime Minister Narendra Modi launched … Continued

India less vulnerable to external shocks: S&P

Indian economy is less vulnerable to external shocks as it is mainly driven by household consumption and government spending, and not dependent on hot money which can move out quickly, Standard & Poor’s Rating Services said today. The US-based rating … Continued

France will partner India to build three ‘smart’ cities

France will help India develop Chandigarh, Nagpur and Puducherry as smart cities. Agence Française de Developpement (French Development Agency) signed memoranda of understanding with the government of Union territory of Chandigarh, and government of Union territory of Puducherry and the … Continued

India, UK to cooperate in infrastructure financing, address tax evasion

Amid fears of the global economy edging close to recession, India and UK have agreed to open up trade and markets to support growth, carry out structural reforms and address issues related to cross-border tax evasion. After talks between India’s … Continued

India, Qatar to boost cooperation in hydrocarbons

DOHA: With Qatar having the world’s third largest gas reserves and being India’s largest supplier of liquefied natural gas (LNG), both countries are expected to give a fillip to cooperation in the hydrocarbons sector . Qatar has gas reserves exceeding … Continued

FTA with EU: India to take up ‘stock-taking exercise’

India will undertake a “stock-taking exercise” for a free trade agreement with the EU later this month, after a gap of three years, and pitch for greater market access in services once the stage is set for further negotiations, a … Continued

Primarc Group sets up venture capital fund for start-ups

Kolkata-based Primarc Group, which is into real estate and retailing, has set up a venture capital fund targeting start-ups. According to Sidharth Pansari, Director, Primarc Group, the fund – Primarc iVenture – will look to fund start-ups at an angel … Continued

Foreign investors find Indian realty sector attractive again after 5 years

Foreign investors’ interest in Indian real estate is on the rise after almost five years, India-specific fundraisings indicate. The cycle started gaining momentum just before the 2014 general elections and at least $2.2 billion (Rs 14,680 crore) of funds have … Continued

E-Commerce Industry to Cross $38 Billion Mark in India

India’s e-commerce market is likely to touch $38-billion-mark in 2016, a 67 per cent jump over the $23 billion revenue it clocked last year, according to the Associated Chambers of Commerce and Industry (Assocham). “Increasing internet and mobile penetration, growing … Continued

Government extends tax residency rule – Place of Effective Management

A deadline for comments on the draft guidelines to determine the tax residency of a foreign company has been extended to January 9. The government felt the need to determine a company’s place of effective management due to lack of … Continued

Czech Republic to help India modernise heavy industry

India has signed a protocol with Czech Republic to promote bilateral cooperation in the field of heavy industry, especially in industrial cooperation and facilities construction, the Union Cabinet was apprised today. The protocol includes modernisation of the existing facilities in … Continued

US, India to boost defence ties, fast-track co-production

India and the US have ramped up their defence and strategic ties by agreeing to fast-track co-production ventures as their defence ministers held wide-ranging talks on regional and global security issues besides discussing the growing menace of terrorism. Defence Minister … Continued

FDI flow in to India grows by 35% in last 17 months

Foreign direct investment into India has grown by 35 per cent in the last 17 months even as across the world it has fallen by 16 per cent, a top Union government official said today. “FDI in India has grown … Continued

Global mergers and acquisitions hit all-time high in 2015 at $4.86 trillion: Dealogic report

The 2015 was a record year for global merger and acquisitions (M&A) as corporates announced deals worth USD 4.86 trillion and a significant portion of this came from Asia Pacific targeted deals, says a report. According to global deal tracking … Continued

SEBI allows foreign venture funds to register as FPIs, plans to finalize listing norms for startups soon

Capital markets regulator SEBI has said that Foreign Venture Capital Investors (FVCIs) can be granted registration as a foreign portfolio investor if they meet certain guidelines. The announcement came following a query from designated depository participant seeking clarification with regard … Continued

RBI sets up helpline for startups on fund-raising

With startups raising funds from a variety of offshore sources, including individuals, private equity players and crowdsourcing, the RBI has set up a dedicated helpline for advice on cross-border remittances which are subject to guidelines issued under the foreign exchange … Continued

Japan’s SoftBank wins first solar project in India

Marking its debut in the Indian solar sector after its investment announcement of $20 billion, Japan’s SoftBank won its first solar power project in India. The Japanese firm won the 350 megawatt (Mw) project, under the Jawaharlal Nehru National Solar … Continued

Japanese PM Abe on 3-day visit to India starting today; number of pacts on table

  A Rs 98,000-crore deal to build a bullet train network is among a number of agreements likely to be signed during Japanese Prime Minister Shinzo Abe’s three-day visit beginning on Friday during which he will hold annual summit talks … Continued

Japanese PM assures stronger biz ties with India

Prime Minister Shinzo Abe on Friday urged Indian industry to invest in Japan even as he highlighted Japan’s interest in the development of India’s infrastructure. “Japan is going to realise a GDP growth of about $100 trillion. So I want … Continued

Singapore pips Mauritius as India’s top FDI source

Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current financial year. During April-September 2015, India has attracted $6.69 billion (Rs 43,096 crore) FDI from Singapore while from … Continued

Uber valuation put at $62.5 bn after new investment

Uber’s fund-raising efforts are showing no signs of slowing down. The company, based in San Francisco, is close to completing the raising of a $2.1-billion round of venture capital, according to people briefed on the company’s plans, the company’s single-largest … Continued

UAE earmarks key sectors like railways, housing, ports, roads for investments in India

Oil-rich United Arab Emirates (UAE) has identified key sectors including railways, housing, ports, roads and renewable energy (mainly solar) for investments in India as part of the $75 billion announced during Prime Minister’s August trip to the Gulf nation that … Continued

Japan pledges $10 billion for climate policies in developing nations

Japanese Prime Minister Shinzo Abe today promised to give $10.6 billion to developing nations by 2020 to help them implement policies against global warming, ahead of the UN climate talks in Paris next week. The decision to offer 1.3-trillion yen … Continued

India signs 11 more APAs to reduce tax disputes

The Central Board of Direct Taxes (CBDT) has signed 11 more advance pricing agreements (APAs) with MNCs on Tuesday, taking the total number of such deals that would spare them from rigorous tax audits under certain conditions to 31 so … Continued

After 50 years of diplomatic ties, India and Singapore to be strategic partners

After almost five decades of having diplomatic ties, India and Singapore will become strategic partners for the first time on Monday. The partnership will encompass all aspects of bilateral ties from expansion of defence cooperation, enhancement of trade and investment and … Continued

Singapore to focus more on economic activities in India: Experts

Singapore will further strengthen its bilateral trade ties with India through the “strategic partnership” the two countries will establish during Prime Minister Narendra Modi’s visit here next week, according to experts.   “The strategic partnership means bringing the relationship between … Continued

Want to partner India in smart cities: Huawei

Chinese technology major Huawei wants to partner India in helping it build Information and Communications Technology (ICT) infrastructure for the development of smart cities, a senior company executive said at the Huawei Innovation Day Asia, co-hosted with National University of … Continued

India, Japan sign action plan to double investments in 5-years

The governments of India and Japan signed an agreement on Thursday for doubling of Japanese investment into Indian firms in the next five years, and  boosting two-way trade. The signatories were Commerce and Industry Minister Nirmala Sitharaman and Japan’s minister … Continued

Strengthening Iran-India trade ties a great opportunity for both

  Iran’s Ambassador to India Gholamreza Ansari at the inaugural session of the United Economic Forum’s Trade Summit 2015 in Chennai on Saturday. India is on top of Iran’s list of partners with which it plans to strengthen economic ties … Continued

India, UK strike 3.2 bn pound deal on energy, climate change

Ahead of the Paris climate summit, India and Britain have agreed on a comprehensive package of collaboration on energy and climate change which includes commercial deals worth 3.2 billion pounds. During Prime Minister Narendra Modi’s ongoing UK visit, the two … Continued

RBI allows foreign currency-rupee swap transactions

RBI said that such swap transactions could be undertaken by the MFI/IFI concerned on a back-to-back basis with an authorised dealers (AD) Category-I bank in India The Reserve Bank of India (RBI) on Thursday allowed residents having a long-term foreign … Continued

Private equity investors discover gold mine in e-commerce backend

Private equity investors, who have stayed away from investing in online retail companies, have instead quietly reaped a windfall by backing logistics companies providing back-end support in the e-commerce rush. In the latest deal, Peepul Capital recorded an over six-fold … Continued

Global re-insurers gearing up to open branch offices in India

Global reinsurance majors, such as Swiss Re, Munich Re and SCOR, have firmed up plans to apply for a composite licence to carry on reinsurance business through a branch office in India. Last week, the Insurance Regulatory and Development Authority … Continued

Finance Ministry to ease transfer pricing rules

The finance ministry is streamlining safe harbour rules and advance agreements, two mechanisms to determine the price of services rendered by a multinational to its subsidiary in India. Safe harbour rules – directives on margins the tax authorities should accept … Continued

Global Financial Secrecy Index: Hong Kong, Singapore’s ranks rise

Hong Kong and Singapore have increased their ranking for financial secrecy, with the Chinese territory rising to number two, behind only Switzerland in a 2015 index of the world’s offshore havens, compiled by the Tax Justice Network (TJN). Both the … Continued

Commerce ministry firming up Africa-focused export strategy

The commerce department is firming up an export strategy focused on Africa, giving a new dimension to the government’s strategic push for ties with the continent that could offer a large market for Indian goods at a time of slowing … Continued

PM Narendra Modi promises $10-bn credit line to Africa

Promising $10 billion in credit to Africa to back a “partnership of prosperity” and pitching a broad alliance for global reform, Prime Minister Narendra Modi called for a permanent solution to the food security and agriculture subsidy issues at the … Continued

Govt approves 16 FDI proposals worth Rs 4,722 cr

The government has cleared 16 foreign investment proposals, including that of HDFC Capital and Ageon Religare Life Insurance Company, amounting to Rs 4,722 crore. The investment proposals were approved following the recommendation for the same by the Foreign Investment Promotion … Continued

Relaxed tax residency rules to help MNCs

Foreign companies with Indian shareholders won’t have to pay taxes here for their worldwide income unless they are managed from India on an everyday basis. If these foreign companies are managed from outside India, whether or not they are promoted … Continued

Start-up investments in India to see three-fold rise to $6.5 bn in 2015: Nasscom

India will witness about $6.5-billion (Rs 42,300 crore) funding in start-ups this year, as global investors look at investing in firms that build products and solutions for the local market, while using them for emerging markets in Asia, Africa and … Continued

Income Tax dept lowers pitch on tax demands on multinationals

The income tax department will withdraw from a few hundreds of tax cases with multinational corporations pending in tribunals by the end of this fiscal. This marks a significant softening of approach given its high-pitched income reassessments for MNCs in … Continued

Vodafone gets a reprieve in Rs. 8,500-cr transfer pricing case

The Bombay High Court on Thursday gave a favourable ruling to Vodafone in the transfer pricing case related to the sale of the company’s call-centre business to Hutchison and assignment of call options to Vodafone International. The tax dispute, which … Continued

Australia to collaborate with Indian researchers

The Australian government, through the Australia-India Strategic Research Fund (AISRF), would collaborate with Indian researches in the field of agriculture, mining, energy, health etc. The Australian government has earmarked $84 million to be spent over three years in creating infrastructure, … Continued

India signs 16 advance pricing pacts with MNCs

The income tax department has signed 16 advance pricing agreements (APAs) with multinational companies (MNCs) so far, exempting their transactions with local units from rigorous tax audits. APAs were introduced to give tax certainty to MNCs that agree on certain … Continued