The government is considering the issue of granting voting rights to Non-Resident Indians and suggestions have been submitted to the Election Commission on the matter, Union minister for overseas Indian affairs Vayalar Ravi said on Sunday. Speaking
The Foreign Contribution (Regulation) Act, 2010 [FCRA] has been passed by both the houses of Parliament to replace Foreign Contribution (Regulation) Act, 1976 [FCRA 1976] to • regulate the acceptance and utilization of foreign contribution prohibit acceptance and utilization of FC or foreign hospitality for any activities detrimental to national interest.
An expert said under the new structure, foreign banks’ tax liability might go up if the wholly-owned subsidiary decides to pay a dividend, as such payments will attract dividend distribution tax. Tax liabilities of foreign banks will rise marginally
Reserve Bank of India [RBI] had on 12 August 2010 issued guidelines for Core Investment Companies [CICs]. RBI has on, 5 January 2011 notified Core Investment Companies (Reserve Bank) Directions, 2011 [CIC Directions]. The CIC Directions and the conse
Financial regulators Sebi and RBI have enhanced vigil on Indian entities routing their funds from secretly-held Swiss bank accounts to India through Dubai and other locations, on fears of getting exposed for stashing the money in the European nation.
This ruling clarifies that the ‘purchase exclusion’ contained in the ITL for export of goods out of India can be relied upon by a non-resident only if income otherwise does not accrue or arise in India. This ruling also states that if a non-resident
The Government has decided today to remove Shri Suresh Kalmadi from the position of the Chairman of the Organizing Committee, CWG, Delhi, 2010 and the position of Chairman, Executive Board of the organizing, CWG, 2010 and Shri Lalit Bhanot from the position of Secretary General of the Organizing Committee, CWG, 2010 and from the position of Secretary General, Executive Board of the Organizing Committee, CWG, Delhi 2010 with immediate effect.
The ruling upholds and reiterates the OECD position on pass -through costs that are not incurred for value-added purposes. It will provide clarity and guidance to taxpayers and tax administration alike on the issue of determination of cost base in si
So far there are no reliable estimates of black money both inside and outside the country. The interim recommendations of BJP Task Force 2009 have estimated the amount of black money to be between USD 500 billion to USD 1,400 billion. A current study
The Union Finance Minister Shri Pranab Mukherjee presented the Presidential Awards to the officers of the Customs & Central Excise and Directorate of Enforcement, here today. The officers of the Customs & Central Excise Department are considered for
