Krishi Kalyan Tax to be levied on services from June 1st

The 2016 budget had a provision which introduced the additional cess of 0.5 percent on all taxable services name krishi kalyan cess. This would be levied over the service tax and swatch bharat tax. The cess is introduced to finance and promote agricultural starting from June 1st. The revenue earned through cess can be used […]

Google office raided by income tax officers in France

Google’s Paris headquarters was raided by French Police as a follow-up of the investigation of probable tax evasion by the search giant.Google stated that it fully complies with the French laws and has paid all its taxes. In the recent times several multinational companies are accused of evading taxes by acting as subsidiaries of companies […]

Finance ministry wants to bring foreign fund managers to India

At present foreign capital to India is managed from offshore nations like Mauritius, Singapore and London. In a bid to bring these managers to India the government has eased the norms. The Indian taxation structure has an inbuilt tax incentive system for those operating from these places. For example according to the earlier India-Mauritius tax […]

Raw sugar import tax may be reduced

With back to back droughts in India sugarcane productions is running low. India, the second largest producer of sugar in the world and a major exporter is now looking for options to control price rise in domestic market, owing to drop in crop yield.Maharashtra, the Indian states which contributes the major chunk of sugarcane crop […]

World Bank provides aid for rooftop solar project in India

World Bank has decided to provide $625 million aid to India for assisting its solar project. The grid connected roof top solar project will help India generate clean energy.The board also approved $5 million grant from climate Investment Fund (CIF) for clean technology and 120 million on concessional terms.According to world banks official statement the […]

Two departments eyeing on the same plot

Bandra Kurla Complex (BKC) is a planned commercial complex in the suburbs of Mumbai. The commercial complex includes private and government offices, banks and wholesale establishments. It is a home for the Mumbai Cricket Association. The overall measure of the complex is one lakh seventy four thousand square meters.The Mumbai Metropolitan Region Development Authority and […]

India -Mauritius tax treaty amended

Finance Minister Arun Jaitley announced that investors must pay taxes over the money earned in India. Developing countries follow FDI incentives to attract foreign individuals and companies to invest in their infrastructure and industries. This in turn will boost the economy and growth of the nation. Foreign investment was allowed in India in the year […]

Royal bank of Scotland shuts down Indian operations

Royal bank of Scotland will shut down its operations (corporate, retail and institutional) in India in a phased manner. The bank with its headquarters in U.K was bailed out during the 2008 financial crisis and since then has sold out its non-core units in India. Several other European banks too have followed their shutdown in […]

US funds Indian infrastructure projects

India is currently in a massive drive to increase its infrastructure capabilities and build smart cities. U.S has extended its support to India’s infrastructure projects by increasing the financing options for National Investment and Infrastructure Fund (NIIF). This was announced in a joint statement of the Finance Minister Arun Jaitley and US treasury secretary Jacob […]

India raised money for its renewable energy projects

Piyush Goyal, the Indian minister for power, coal and renewable energy attended the meeting in the London stock Exchange regarding the financing options for India’s renewable energy projects. He expressed his desire for expansion of renewable energy that would require an investment of $1 billion. Latter the London stock exchange delegates attended the Indian renewable […]