indian chambers of commerce

The services/activities provided by the American Institute to DRDO pursuant to the agreement entered into between FICCI and the American Institute do not fall within the purview of Article 12(4)(b) of the Indo-US DTAA and the payments received by the Institute under the agreement are not liable to be taxed as fees for technical services under the domestic law; consequently, FICCI is not required to deduct tax under section 195 for payments made by it to the American Inst.. Full Article

India can surpass China as a global production hub for consumer durables with rationalisation of tax structure and policy support from the government, says a study by industry body Ficci and financial consultancy company PricewaterhouseCoopers. The study suggested tax rebates for high-end technology companies that set up research and development centres in India . Full Article

The government today said it would come up with a roadmap in November to help companies to adopt International Financial Reporting Standards (IFRS) which will become operational from 2011. The government will take the concerned regulatory agencies like SEBI and others on board before finalising the roadmap, Corporate Affairs Minister Salman Khurshid told reporters on the [...] Full Article