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INDIA'S WITHHOLDING TAX FOR NON-RESIDENTS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US INDIA'S AUTOMOBILE INDUSTRY: INCREASING OPPORTUNITIES FOR India is a global leader in the automotive sector, backed by its domestic production capacity, market size, and exports. On average, the country’s automobile sector boasts of an annual production of around 24 million vehicles; the sector also employs over INDUSTRIAL LICENSING IN INDIA: NORMS AND POLICY In India, industrial licenses are regulated by the IDRA, 1951 Act, and are approved by the Secretarial of Industrial Assistance (SIA) on the recommendation of the licensing committee. The provisions of the Act restrict a licensed industrial undertaking from manufacturing a new article unless the license has been renewed or a new license has WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19 IN INDIA: UPDATES TILL DECEMBER 31, 2020 December 18, 2020. India’s COVID-19 tally reached 9,979,447 cases with 22,889 new cases confirmed. There are 313,831 active cases in the country and 9,520,827 recoveries. The death toll is at 144,789 with 338 new deaths reported in the last 24 hours, according to data from the health ministry. INDIA’S INVESTMENT OUTLOOK IN 2021: TOP SECTORS TO LOOK ATSEE MORE ON INDIA-BRIEFING.COM COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
INDIA'S WITHHOLDING TAX FOR NON-RESIDENTS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US INDIA'S AUTOMOBILE INDUSTRY: INCREASING OPPORTUNITIES FOR India is a global leader in the automotive sector, backed by its domestic production capacity, market size, and exports. On average, the country’s automobile sector boasts of an annual production of around 24 million vehicles; the sector also employs over INDUSTRIAL LICENSING IN INDIA: NORMS AND POLICY In India, industrial licenses are regulated by the IDRA, 1951 Act, and are approved by the Secretarial of Industrial Assistance (SIA) on the recommendation of the licensing committee. The provisions of the Act restrict a licensed industrial undertaking from manufacturing a new article unless the license has been renewed or a new license has INDIA'S LEADING MANUFACTURING HUBS FOR FOREIGN INVESTMENT 1 day ago · India’s Leading Manufacturing Hubs for Foreign Investment, the latest publication from Dezan Shira & Associates is out now and available for download through the Asia Briefing Publication Store.. In this issue: India’s Improving Investment Climate for Manufacturing; Major INDIA’S PUSH TO EXPAND HARDWARE PRODUCTION CAPACITY, IT We look at the latest developments boosting the investment viability of India’s IT sector, including push for local hardware manufacturing and 5G trials, besides spotlighting regional hubs. India is an information technology hub, and the IT sector employs 3.9 million, making it the largest private COVID-19 IN INDIA: UPDATES TILL DECEMBER 31, 2020 December 18, 2020. India’s COVID-19 tally reached 9,979,447 cases with 22,889 new cases confirmed. There are 313,831 active cases in the country and 9,520,827 recoveries. The death toll is at 144,789 with 338 new deaths reported in the last 24 hours, according to data from the health ministry. WHAT IS INDIA DOING TO CONTAIN THE LATEST COVID PANDEMIC WAVE? Since the ‘second wave’ of the COVID-19 pandemic was recorded from mid-March, India has been left scrambling to gain control over a rapidly deteriorating situation. Hospitals in certain states are struggling, not having planned for sudden escalation in infections and demand for beds, ventilators, oxygen supply, and drugs likeRemdesivir.
A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
PAGE 296 – INDIA BRIEFING NEWS India-China Developing Trade Routes. The popular powerpoint presentation given by Chris Devonshire-Ellis recently explaining the developing trade routes between China and SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA AND The first case of COVID-19 in India was reported on January 30, 2020. As of April 14, confirmed cases of COVID-19 stand at 10363. While 1035 patients have recovered, 339 have died. Most of the cases in India are from local transmission, where people either travelled to COVID-19 infected countries, or came in contact with people who had travelNEWS ARCHIVE
India-China Developing Trade Routes. The popular powerpoint presentation given by Chris Devonshire-Ellis recently explaining the developing trade routes between China and COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
SETTING UP A SEMICONDUCTOR FABRICATION PLANT IN INDIA According to the India Electronics and Semiconductor Association (IESA), semiconductor consumption in India was worth US$21 billion in 2019, growing at the rate of 15.1 percent. Research and development in this industry, which includes electronic products and embedded systems, generated about US$2.5 billion in revenue. WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. INDIA’S INVESTMENT OUTLOOK IN 2021: TOP SECTORS TO LOOK ATSEE MORE ON INDIA-BRIEFING.COM A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL With low labor costs, incentives and regulatory relaxations for manufacturing, and a reduced corporate tax rate, India has emerged as an alternative hub for global manufacturing. India is already building its local supply chain capacities, which is key to manufacturing firms relocating from China or expanding their operations into the country. THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. INDIA’S INVESTMENT OUTLOOK IN 2021: TOP SECTORS TO LOOK ATSEE MORE ON INDIA-BRIEFING.COM A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL With low labor costs, incentives and regulatory relaxations for manufacturing, and a reduced corporate tax rate, India has emerged as an alternative hub for global manufacturing. India is already building its local supply chain capacities, which is key to manufacturing firms relocating from China or expanding their operations into the country. THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US INDIA'S LEADING MANUFACTURING HUBS FOR FOREIGN INVESTMENT 19 hours ago · India’s Leading Manufacturing Hubs for Foreign Investment, the latest publication from Dezan Shira & Associates is out now and available for download through the Asia Briefing Publication Store.. In this issue: India’s Improving Investment Climate for Manufacturing; Major Investment Destinations in India INDIA’S PUSH TO EXPAND HARDWARE PRODUCTION CAPACITY, IT 1 day ago · We look at the latest developments boosting the investment viability of India’s IT sector, including push for local hardware manufacturing and 5G trials, besides spotlighting regional hubs. India is an information technology hub, and the IT sector employs 3.9 million, making it the largest private INDIA’S EXPORT OPPORTUNITIES ALONG THE INTERNATIONAL NORTH The International North South Transport Corridor (INSTC) connects India with Central Asia, Russia, and has the potential to expand up to Baltic, Nordic, and Arctic region, increasing the scope of trade multifold. It also has the potential to transform the economies of countries along the corridor COVID-19 IN INDIA: UPDATES TILL DECEMBER 31, 2020 December 18, 2020. India’s COVID-19 tally reached 9,979,447 cases with 22,889 new cases confirmed. There are 313,831 active cases in the country and 9,520,827 recoveries. The death toll is at 144,789 with 338 new deaths reported in the last 24 hours, according to data from the health ministry. A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL For instance, last month, it was announced that about US$6 billion is now allocated to boost domestic manufacturing – to attract investment, incentivize local electronics and components manufacturing, and export-based production in the country.. Under this program, India is intent on setting up more local manufacturing and assembling units taking advantage of tax and industry-wide PAGE 296 – INDIA BRIEFING NEWS India-China Developing Trade Routes. The popular powerpoint presentation given by Chris Devonshire-Ellis recently explaining the developing trade routes between China and THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. INDIA'S WITHHOLDING TAX FOR NON-RESIDENTS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. TRANSFER PRICING IN INDIA EXPLAINED In taxation and accounting, transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. According to the Indian Income-tax Act, 1961, income arising from such transactions must be computed using the arm’s length price principle, that is, the amount payable if the BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS India Briefing publishes business news and guides concerning foreign direct investment into India, including the most important tax, legal and accounting issues WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and WHAT IS INDIA DOING TO CONTAIN THE LATEST COVID PANDEMIC WAVE?SEE MORE ON INDIA-BRIEFING.COM TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19 IN INDIA: UPDATES TILL DECEMBER 31, 2020 December 18, 2020. India’s COVID-19 tally reached 9,979,447 cases with 22,889 new cases confirmed. There are 313,831 active cases in the country and 9,520,827 recoveries. The death toll is at 144,789 with 338 new deaths reported in the last 24 hours, according to data from the health ministry. INDIA’S DIGITAL TAX: RULES WHERE LEVY IS APPLICABLE, USSEE MORE ONINDIA-BRIEFING.COM
COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
CHINESE INVESTMENT IN INDIA: IMPACT OF NEW FDI Since the 2020 FDI restrictions, several Chinese outbound investment proposals have been stuck in limbo. According to India’s government data, since April 2020, the country has received over 120 foreign direct investment (FDI) proposals worth INR 120 billion (US$ 1.63 billion) from China. Most of these investments are for brownfieldprojects.
PUNE: INVESTMENT & BUSINESS SPOTLIGHT Pune, formerly known as Poona, is located just 170km from Mumbai, and is Maharashtra's second biggest city and cultural capital. Since the 1950s, Pune has housed traditional industries and has seen some spectacular growth in recent years. NORMES COMMERCIALES EN INDE : CE QU’IL CONVIENT DE …TRANSLATE THISPAGE
Écrit par : Dezan Shira & Associates Traduit par : Alan Hervé Les normes commerciales désignent des critères spécifiques relatifs aux produits ou services. Ces standards s’appliquent tant aux biens domestiques qu’aux biens importés, dès lors, bien comprendre ces standards permet de faciliter le processus d’exportation de biensvers l’Inde.
BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS India Briefing publishes business news and guides concerning foreign direct investment into India, including the most important tax, legal and accounting issues WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and WHAT IS INDIA DOING TO CONTAIN THE LATEST COVID PANDEMIC WAVE?SEE MORE ON INDIA-BRIEFING.COM TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19 IN INDIA: UPDATES TILL DECEMBER 31, 2020 December 18, 2020. India’s COVID-19 tally reached 9,979,447 cases with 22,889 new cases confirmed. There are 313,831 active cases in the country and 9,520,827 recoveries. The death toll is at 144,789 with 338 new deaths reported in the last 24 hours, according to data from the health ministry. INDIA’S DIGITAL TAX: RULES WHERE LEVY IS APPLICABLE, USSEE MORE ONINDIA-BRIEFING.COM
COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
CHINESE INVESTMENT IN INDIA: IMPACT OF NEW FDI Since the 2020 FDI restrictions, several Chinese outbound investment proposals have been stuck in limbo. According to India’s government data, since April 2020, the country has received over 120 foreign direct investment (FDI) proposals worth INR 120 billion (US$ 1.63 billion) from China. Most of these investments are for brownfieldprojects.
PUNE: INVESTMENT & BUSINESS SPOTLIGHT Pune, formerly known as Poona, is located just 170km from Mumbai, and is Maharashtra's second biggest city and cultural capital. Since the 1950s, Pune has housed traditional industries and has seen some spectacular growth in recent years. NORMES COMMERCIALES EN INDE : CE QU’IL CONVIENT DE …TRANSLATE THISPAGE
Écrit par : Dezan Shira & Associates Traduit par : Alan Hervé Les normes commerciales désignent des critères spécifiques relatifs aux produits ou services. Ces standards s’appliquent tant aux biens domestiques qu’aux biens importés, dès lors, bien comprendre ces standards permet de faciliter le processus d’exportation de biensvers l’Inde.
WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and INDIA'S LEADING MANUFACTURING HUBS FOR FOREIGN INVESTMENT 5 hours ago · India’s Leading Manufacturing Hubs for Foreign Investment, the latest publication from Dezan Shira & Associates is out now and available for download through the Asia Briefing Publication Store.. In this issue: India’s Improving Investment Climate for Manufacturing; Major Investment Destinations in India WHAT IS INDIA DOING TO CONTAIN THE LATEST COVID PANDEMIC WAVE? Since the ‘second wave’ of the COVID-19 pandemic was recorded from mid-March, India has been left scrambling to gain control over a rapidly deteriorating situation. Hospitals in certain states are struggling, not having planned for sudden escalation in infections and demand for beds, ventilators, oxygen supply, and drugs likeRemdesivir.
INDIA’S PUSH TO EXPAND HARDWARE PRODUCTION CAPACITY, IT 1 day ago · We look at the latest developments boosting the investment viability of India’s IT sector, including push for local hardware manufacturing and 5G trials, besides spotlighting regional hubs. India is an information technology hub, and the IT sector employs 3.9 million, making it the largest private INDIA'S GST RELIEF MEASURES FOR TAXPAYERS DUE TO COVID-19 Extension of due date of filing GSTR-1, Invoice Furnishing Facility (IFF), GSTR-4 and ITC-04. IFF and FORM GSTR-1: The deadline which was earlier due for the month of April (due in May) has been extended by 15 days. FORM GSTR-4: The due date for FY 2020-21 has been extended from April 30, 2021 to CHINESE INVESTMENT IN INDIA: IMPACT OF NEW FDI Since the 2020 FDI restrictions, several Chinese outbound investment proposals have been stuck in limbo. According to India’s government data, since April 2020, the country has received over 120 foreign direct investment (FDI) proposals worth INR 120 billion (US$ 1.63 billion) from China. Most of these investments are for brownfieldprojects.
INDIA’S EXPORT OPPORTUNITIES ALONG THE INTERNATIONAL NORTH The International North South Transport Corridor (INSTC) connects India with Central Asia, Russia, and has the potential to expand up to Baltic, Nordic, and Arctic region, increasing the scope of trade multifold. It also has the potential to transform the economies of countries along the corridor LIST OF COUNTRIES THAT HAVE A DTAA WITH INDIA India has one of the largest networks of tax treaties for the avoidance of double taxation and prevention of tax evasion. The country has Double Tax Avoidance Agreements (DTAAs) with over 85 countries under Section 90 of the Income Tax Act, 1961.. The purpose of such tax treaties is to develop a fair and equitable system for the allocation of the right to tax different types of income between PAGE 296 – INDIA BRIEFING NEWS India-China Developing Trade Routes. The popular powerpoint presentation given by Chris Devonshire-Ellis recently explaining the developing trade routes between China andNEWS ARCHIVE
India-China Developing Trade Routes. The popular powerpoint presentation given by Chris Devonshire-Ellis recently explaining the developing trade routes between China and WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES Vivad Se Vishwas facilitates the settlement of disputed tax, disputed interest, disputed penalty, or disputed fees in relation to an assessment or reassessment order on the payment of 100 percent of the disputed tax and 25 percent of the disputed penalty, interest, or fee. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK However, India is yet to announce any amendment within existing labor laws to accommodate changes caused in employment conditions due to COVID-19.. Navigating the work from home model can be difficult, especially for businesses that have no experience with remoteoperations.
A GUIDE TO MINIMUM WAGE IN INDIA Foreign businesses in India can have a challenging time comprehending and calculating the minimum wage as they differ in every state, and are categorized under multiple criteria, such as region, industry, skills level, and nature of work.. Until last year, the minimum wage was regulated under the purview of the Minimum Wages Act, 1948.This changed last year after the parliament passed the Code INDIA’S INVESTMENT OUTLOOK IN 2021: TOP SECTORS TO LOOK ATSEE MORE ON INDIA-BRIEFING.COM SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS India possesses a large labor pool as almost half its population of 1.2 billion is of working age. Naturally, the structure of India’s labor market is diverse; foreign companies need to understand this structure to benefit from India’s demographic dividend. MINING IN INDIA'S NORTHEAST About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES Vivad Se Vishwas facilitates the settlement of disputed tax, disputed interest, disputed penalty, or disputed fees in relation to an assessment or reassessment order on the payment of 100 percent of the disputed tax and 25 percent of the disputed penalty, interest, or fee. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK However, India is yet to announce any amendment within existing labor laws to accommodate changes caused in employment conditions due to COVID-19.. Navigating the work from home model can be difficult, especially for businesses that have no experience with remoteoperations.
A GUIDE TO MINIMUM WAGE IN INDIA Foreign businesses in India can have a challenging time comprehending and calculating the minimum wage as they differ in every state, and are categorized under multiple criteria, such as region, industry, skills level, and nature of work.. Until last year, the minimum wage was regulated under the purview of the Minimum Wages Act, 1948.This changed last year after the parliament passed the Code INDIA’S INVESTMENT OUTLOOK IN 2021: TOP SECTORS TO LOOK ATSEE MORE ON INDIA-BRIEFING.COM SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS India possesses a large labor pool as almost half its population of 1.2 billion is of working age. Naturally, the structure of India’s labor market is diverse; foreign companies need to understand this structure to benefit from India’s demographic dividend. MINING IN INDIA'S NORTHEAST About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS India Briefing publishes business news and guides concerning foreign direct investment into India, including the most important tax, legal and accounting issues INDIA’S EXPORT OPPORTUNITIES ALONG THE INTERNATIONAL NORTH 1 day ago · The International North South Transport Corridor (INSTC) connects India with Central Asia, Russia, and has the potential to expand up to Baltic, Nordic, and Arctic region, increasing the scope of trade multifold. It also has the potential to transform the economies of countries along the corridor NEW G7 PROPOSALS ON TAXING MULTINATIONALS: IMPLICATIONS The G7 tax proposals, if approved globally, will impact India’s taxation of foreign or non-resident companies and digital enterprises without a physical presence. The proposals call for a global minimum corporate tax rate, puts forth a formula for taxation, and demands the elimination of digital TAX DEADLINES IN INDIA IN 2021: KEY DATES Vivad Se Vishwas facilitates the settlement of disputed tax, disputed interest, disputed penalty, or disputed fees in relation to an assessment or reassessment order on the payment of 100 percent of the disputed tax and 25 percent of the disputed penalty, interest, or fee. SETTING UP A SEMICONDUCTOR FABRICATION PLANT IN INDIA The demand for semiconductors in India is valued at over US$10 billion. Foreign investors may submit their Expression of Interest (EoI) / investment proposals by April 30, 2021. The government has stipulated the types of projects eligible. SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA AND By Rohit Kapur, Dezan Shira & Associates, New Delhi . Current Situation. The first case of COVID-19 in India was reported on January30, 2020. As of
BRANCH OFFICES IN INDIA: HOW TO SET UP A branch office is a suitable business model for foreign companies looking to establish a temporary presence in India. The branch office serves as an extension of the head office business and carries on the same business and activity as that of its parent company. REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONS Sending money from India to a foreign country can often be a daunting procedure for both foreign businesses and expatriates living in India.. There are various schemes and regulations that limit how much money can be remitted and for what purpose. CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL For instance, last month, it was announced that about US$6 billion is now allocated to boost domestic manufacturing – to attract investment, incentivize local electronics and components manufacturing, and export-based production in the country.. Under this program, India is intent on setting up more local manufacturing and assembling units taking advantage of tax and industry-wide INDIA AS A BACK OFFICE TO THE WORLD: SOFTWARE, HR, DIGITAL India is considered one of the preferred destinations for outsourcing and key back office functions. Apart from IT, jobs in sectors like HR and payroll management, digital marketing, and SEO are being increasingly outsourced to India. WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL With low labor costs, incentives and regulatory relaxations for manufacturing, and a reduced corporate tax rate, India has emerged as an alternative hub for global manufacturing. India is already building its local supply chain capacities, which is key to manufacturing firms relocating from China or expanding their operations into the country. THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
MINING IN INDIA'S NORTHEAST About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL With low labor costs, incentives and regulatory relaxations for manufacturing, and a reduced corporate tax rate, India has emerged as an alternative hub for global manufacturing. India is already building its local supply chain capacities, which is key to manufacturing firms relocating from China or expanding their operations into the country. THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
MINING IN INDIA'S NORTHEAST About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS India Briefing publishes business news and guides concerning foreign direct investment into India, including the most important tax, legal and accounting issues INDIA’S EXPORT OPPORTUNITIES ALONG THE INTERNATIONAL NORTH 1 day ago · The International North South Transport Corridor (INSTC) connects India with Central Asia, Russia, and has the potential to expand up to Baltic, Nordic, and Arctic region, increasing the scope of trade multifold. It also has the potential to transform the economies of countries along the corridor NEW G7 PROPOSALS ON TAXING MULTINATIONALS: IMPLICATIONS The G7 tax proposals, if approved globally, will impact India’s taxation of foreign or non-resident companies and digital enterprises without a physical presence. The proposals call for a global minimum corporate tax rate, puts forth a formula for taxation, and demands the elimination of digital TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA AND The first case of COVID-19 in India was reported on January 30, 2020. As of April 14, confirmed cases of COVID-19 stand at 10363. While 1035 patients have recovered, 339 have died. Most of the cases in India are from local transmission, where people either travelled to COVID-19 infected countries, or came in contact with people who had travel BRANCH OFFICES IN INDIA: HOW TO SET UP A branch office is a suitable business model for foreign companies looking to establish a temporary presence in India. The branch office serves as an extension of the head office business and carries on the same business and activity as that of its parent company. SETTING UP A SEMICONDUCTOR FABRICATION PLANT IN INDIA According to the India Electronics and Semiconductor Association (IESA), semiconductor consumption in India was worth US$21 billion in 2019, growing at the rate of 15.1 percent. Research and development in this industry, which includes electronic products and embedded systems, generated about US$2.5 billion in revenue. CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL For instance, last month, it was announced that about US$6 billion is now allocated to boost domestic manufacturing – to attract investment, incentivize local electronics and components manufacturing, and export-based production in the country.. Under this program, India is intent on setting up more local manufacturing and assembling units taking advantage of tax and industry-wide REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONS Liberalized Remittance Scheme (LRS) The Liberalized Remittance Scheme (LRS) was announced in 2004 as a step towards further simplification of India’s foreign exchange services. On May 26, 2015 the RBI increased the remittance limit for individuals, including minors, from US$200,000 to US$ 250,000 per financial year. MINING IN INDIA'S NORTHEAST About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. INDIA’S HEALTHCARE INVESTMENT OUTLOOK: A BRIEF PROFILESEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
INDIA’S TECH HUBS: BENGALURU VS HYDERABAD The city headquarters about 80 percent of global IT companies, and accounts for almost 34 percent of India’s total IT exports. Out of the 871 multi-national companies, which have their research and development (R&D) centres in India, 700 are located in Bengaluru.. In 2017, the city ranked 19 on the World Economic Forum list of 85 most digitally advanced cities on the planet and was named the WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK COVID-19 in India: 5 Best Practices for Businesses Implementing Work-From-Home. Due to the COVID-19 (coronavirus) outbreak, companies in India have asked their employees to work from home, at least until March 31. It is important for organizations to have protocols set for remote operations so that it does not affect the productivity ofemployees.
A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
SOCIAL AND ECONOMIC IMPACT OF COVID-19 ON INDIA ANDSEE MORE ONINDIA-BRIEFING.COM
THE INDUSTRIAL RELATIONS CODE AND ITS IMPACT ON INDIA'S The Industrial Relations Code (IR Code) was passed last year and received the President’s assent on September 28. However, the effective date of commencement is still pending as the government is working to finalize implementing rules for the Code and there needs to be agreement among the states. INDIA’S HEALTHCARE INVESTMENT OUTLOOK: A BRIEF PROFILESEE MORE ONINDIA-BRIEFING.COM
THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS Labor costs in India. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. India offers competitive advantages with its lower wage structure and access to a vast labor market. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ONINDIA-BRIEFING.COM
INDIA’S TECH HUBS: BENGALURU VS HYDERABAD The city headquarters about 80 percent of global IT companies, and accounts for almost 34 percent of India’s total IT exports. Out of the 871 multi-national companies, which have their research and development (R&D) centres in India, 700 are located in Bengaluru.. In 2017, the city ranked 19 on the World Economic Forum list of 85 most digitally advanced cities on the planet and was named the BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS India Briefing publishes business news and guides concerning foreign direct investment into India, including the most important tax, legal and accounting issues INDIA’S EXPORT OPPORTUNITIES ALONG THE INTERNATIONAL NORTH 1 day ago · The International North South Transport Corridor (INSTC) connects India with Central Asia, Russia, and has the potential to expand up to Baltic, Nordic, and Arctic region, increasing the scope of trade multifold. It also has the potential to transform the economies of countries along the corridor NEW G7 PROPOSALS ON TAXING MULTINATIONALS: IMPLICATIONS The G7 tax proposals, if approved globally, will impact India’s taxation of foreign or non-resident companies and digital enterprises without a physical presence. The proposals call for a global minimum corporate tax rate, puts forth a formula for taxation, and demands the elimination of digital TAX DEADLINES IN INDIA IN 2021: KEY DATES December 31, 2021: Reduction in deadline period for belated filing of tax returns. Effective from filing the income tax return for FY 2020-21 onwards, taxpayers will now have time only till December 31, 2021 to file a belated ITR and pay a maximum penalty of INR 5,000. The deadline every year is July 31. COVID-19 IN INDIA: UPDATES TILL DECEMBER 31, 2020 December 18, 2020. India’s COVID-19 tally reached 9,979,447 cases with 22,889 new cases confirmed. There are 313,831 active cases in the country and 9,520,827 recoveries. The death toll is at 144,789 with 338 new deaths reported in the last 24 hours, according to data from the health ministry. A GUIDE TO MINIMUM WAGE IN INDIA India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day, which works out to INR 4,576 (US$62) per month. This is a national floor-level wage – and will vary depending on geographical areas and other criteria. More broadly, a global ranking of average wagesrecently
BRANCH OFFICES IN INDIA: HOW TO SET UP A branch office is a suitable business model for foreign companies looking to establish a temporary presence in India. The branch office serves as an extension of the head office business and carries on the same business and activity as that of its parent company. SETTING UP A SEMICONDUCTOR FABRICATION PLANT IN INDIA According to the India Electronics and Semiconductor Association (IESA), semiconductor consumption in India was worth US$21 billion in 2019, growing at the rate of 15.1 percent. Research and development in this industry, which includes electronic products and embedded systems, generated about US$2.5 billion in revenue. CAN INDIA TAKE OVER CHINA’S POSITION AS A GLOBAL For instance, last month, it was announced that about US$6 billion is now allocated to boost domestic manufacturing – to attract investment, incentivize local electronics and components manufacturing, and export-based production in the country.. Under this program, India is intent on setting up more local manufacturing and assembling units taking advantage of tax and industry-wide TRANSFER PRICING IN INDIA EXPLAINED In taxation and accounting, transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. According to the Indian Income-tax Act, 1961, income arising from such transactions must be computed using the arm’s length price principle, that is, the amount payable if the BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS India Briefing publishes business news and guides concerning foreign direct investment into India, including the most important tax, legal and accounting issues INDIA’S DIGITAL TAX: RULES WHERE LEVY IS APPLICABLE, US Offshore e-commerce firms that have a permanent establishment in India or pay income tax in India are exempt from the two percent equalization levy. Meanwhile, the USTR has temporarily suspended retaliatory tariffs – imposing additional 25 percent tariffs on 40Indian products –
WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES Vivad Se Vishwas facilitates the settlement of disputed tax, disputed interest, disputed penalty, or disputed fees in relation to an assessment or reassessment order on the payment of 100 percent of the disputed tax and 25 percent of the disputed penalty, interest, or fee. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK However, India is yet to announce any amendment within existing labor laws to accommodate changes caused in employment conditions due to COVID-19.. Navigating the work from home model can be difficult, especially for businesses that have no experience with remoteoperations.
REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ON INDIA-BRIEFING.COMINDIA FOREIGN EXCHANGE RATEINDIA FOREIGN EXCHANGERESERVES
TRANSFER PRICING IN INDIA EXPLAINED While the detailed contents of these documents is provided through rules, the reporting requirements are expected to align with the Organization for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action 13 on THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS India possesses a large labor pool as almost half its population of 1.2 billion is of working age. Naturally, the structure of India’s labor market is diverse; foreign companies need to understand this structure to benefit from India’s demographic dividend. INDIA’S TECH HUBS: BENGALURU VS HYDERABAD The city headquarters about 80 percent of global IT companies, and accounts for almost 34 percent of India’s total IT exports. Out of the 871 multi-national companies, which have their research and development (R&D) centres in India, 700 are located in Bengaluru.. In 2017, the city ranked 19 on the World Economic Forum list of 85 most digitally advanced cities on the planet and was named the INDIA'S AUTOMOBILE INDUSTRY: INCREASING OPPORTUNITIES FOR India is a global leader in the automotive sector, backed by its domestic production capacity, market size, and exports. On average, the country’s automobile sector boasts of an annual production of around 24 million vehicles; the sector also employs over BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS India Briefing publishes business news and guides concerning foreign direct investment into India, including the most important tax, legal and accounting issues INDIA’S DIGITAL TAX: RULES WHERE LEVY IS APPLICABLE, US Offshore e-commerce firms that have a permanent establishment in India or pay income tax in India are exempt from the two percent equalization levy. Meanwhile, the USTR has temporarily suspended retaliatory tariffs – imposing additional 25 percent tariffs on 40Indian products –
WHAT ARE INDIA’S LATEST GUIDELINES ON INTERNATIONAL TRAVEL? Commercial international flights have been suspended in India since March 25 this year due to the coronavirus outbreak. While travel restrictions to India have been relaxed, the country’s borders are still closed to tourists. Below we highlight the latest guidelines for international travel to and TAX DEADLINES IN INDIA IN 2021: KEY DATES Vivad Se Vishwas facilitates the settlement of disputed tax, disputed interest, disputed penalty, or disputed fees in relation to an assessment or reassessment order on the payment of 100 percent of the disputed tax and 25 percent of the disputed penalty, interest, or fee. COVID-19: BEST PRACTICES FOR BUSINESSES IMPLEMENTING WORK However, India is yet to announce any amendment within existing labor laws to accommodate changes caused in employment conditions due to COVID-19.. Navigating the work from home model can be difficult, especially for businesses that have no experience with remoteoperations.
REMITTING MONEY FROM INDIA: PROCEDURES AND REGULATIONSSEE MORE ON INDIA-BRIEFING.COMINDIA FOREIGN EXCHANGE RATEINDIA FOREIGN EXCHANGERESERVES
TRANSFER PRICING IN INDIA EXPLAINED While the detailed contents of these documents is provided through rules, the reporting requirements are expected to align with the Organization for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action 13 on THE LABOR MARKET IN INDIA: STRUCTURE AND COSTS India possesses a large labor pool as almost half its population of 1.2 billion is of working age. Naturally, the structure of India’s labor market is diverse; foreign companies need to understand this structure to benefit from India’s demographic dividend. INDIA’S TECH HUBS: BENGALURU VS HYDERABAD The city headquarters about 80 percent of global IT companies, and accounts for almost 34 percent of India’s total IT exports. Out of the 871 multi-national companies, which have their research and development (R&D) centres in India, 700 are located in Bengaluru.. In 2017, the city ranked 19 on the World Economic Forum list of 85 most digitally advanced cities on the planet and was named the INDIA'S AUTOMOBILE INDUSTRY: INCREASING OPPORTUNITIES FOR India is a global leader in the automotive sector, backed by its domestic production capacity, market size, and exports. On average, the country’s automobile sector boasts of an annual production of around 24 million vehicles; the sector also employs over CORONAVIRUS IN INDIA: DAILY UPDATES This page tracks cases of coronavirus in India, based on the data released daily by the Ministry of Health and Family Welfare at 08:30 IST for the previous 24 hours. June 4, 2021 – India reported 132,364 fresh COVID-19 cases and 2,713 fatalities, pushing the country’stally to
NEW G7 PROPOSALS ON TAXING MULTINATIONALS: IMPLICATIONS 15 hours ago · The G7 tax proposals, if approved globally, will impact India’s taxation of foreign or non-resident companies and digital enterprises without a physical presence. The proposals call for a global minimum corporate tax rate, puts forth a formula for taxation, and demands the elimination of digital INDIA REPORTS US$81.72 BILLION IN FDI IN FY21: TOP TRENDS FDI into India reached US$81.7 billion in FY 2020-21, showcasing the country’s favorable investment environment and rise of new growth opportunities facilitated by pro-business reforms. Foreign direct investment (FDI) into India registered a new high in TAX DEADLINES IN INDIA IN 2021: KEY DATES Vivad Se Vishwas facilitates the settlement of disputed tax, disputed interest, disputed penalty, or disputed fees in relation to an assessment or reassessment order on the payment of 100 percent of the disputed tax and 25 percent of the disputed penalty, interest, or fee. BRANCH OFFICES IN INDIA: HOW TO SET UP A branch office is a suitable business model for foreign companies looking to establish a temporary presence in India. The branch office serves as an extension of the head office business and carries on the same business and activity as that of its parent company. INDIA AS A BACK OFFICE TO THE WORLD: SOFTWARE, HR, DIGITAL India is considered one of the preferred destinations for outsourcing and key back office functions. Apart from IT, jobs in sectors like HR and payroll management, digital marketing, and SEO are being increasingly outsourced to India. SOURCING AND PROCUREMENT FROM INDIA: PRODUCTION AND This article is an excerpt from the November issue of India Briefing Magazine, titled “Establishing Your Sourcing Platform in India“. In this issue, we highlight the advantages India possesses as a sourcing option and explore the choices available to foreign companiesseeking to create a
INDIA’S TECH HUBS: BENGALURU VS HYDERABAD The city headquarters about 80 percent of global IT companies, and accounts for almost 34 percent of India’s total IT exports. Out of the 871 multi-national companies, which have their research and development (R&D) centres in India, 700 are located in Bengaluru.. In 2017, the city ranked 19 on the World Economic Forum list of 85 most digitally advanced cities on the planet and was named the DIVIDEND TAX IN INDIA TO BE BASED ON BENEFICIAL TREATY RATE A recent judgement by the Delhi Income Tax Appellate Tribunal has held that the beneficial tax rate under the relevant tax treaty will apply to the withholding tax on dividend income, even if the shareholder is a non-resident foreign investor, instead of the domestic tax rate. FOREIGN CURRENCY ACCOUNTS BY RESIDENT AND NON-RESIDENT Here, we discuss the types of foreign currency accounts that a resident and non resident Indian can open, maintain and hold in India.×
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INDIA’S TAX CUT – CORPORATE RATES SLASHED TO ENCOURAGE INVESTMENT,REVITALIZE ECONOMY
India just slashed its corporate tax rate by almost 10 percentage points as Prime Minister Narendra Modi's government seeks to boost investor sentiment in the country.__ Tax & Accounting
MICRO, SMALL, AND MEDIUM ENTERPRISES IN INDIA – AN EXPLAINER__ Industries
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SPECIAL ECONOMIC ZONES AND WAREHOUSING CLUSTERS IN DELHI NCR__ Economy & Trade
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September 25, 2019
INDIA’S TAX CUT – CORPORATE RATES SLASHED TO ENCOURAGE INVESTMENT,REVITALIZE ECONOMY
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September 06, 2019
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