Mergers and Acquisitions reforms essential to drive growth agenda

The Indian Finance Minister, Mr. Arun Jaitley, seems to be confident of pushing GDP growth upward and continuing the reforms agenda. At the recently concluded annual meeting of the World Economic Forum in Switzerland, he mentioned that one main reform, which is still work in progress, is “ease of doing business” in India and steps … More Mergers and Acquisitions reforms essential to drive growth agenda

CBDT roadmap for phasing out tax exemptions

The Finance Minister, in his Union Budget 2015 speech, had announced the Government’s intention to reduce the corporate tax rate from 30% to 25% over the next four years, and phase out or rationalize various tax incentives. In November 2015, the Central Board of Direct Taxes (CBDT) released for public comments a draft proposal to … More CBDT roadmap for phasing out tax exemptions

MAT to rest: a sigh of relief for the FPIs!

In a welcome (and rather much awaited) development for the investor community, the Government of India has clarified that it has accepted the recommendations of the A. P. Shah Committee. According to the recommendations, the provisions of Minimum Alternate Tax (MAT) are not applicable to Foreign Portfolio Investors (FPIs)/ Foreign Institutional Investors (FIIs)for the period … More MAT to rest: a sigh of relief for the FPIs!

MAT on FIIs – leading to clarify the tax uncertainty

The levy of Minimum Alternative Tax (MAT) on Foreign Institutional Investors (FIIs), who are now called Foreign Portfolio Investors (FPIs), has been the subject of considerable interest and debate recently. Much has been debated on whether this is a legacy issue and indeed whether MAT is at all payable by a foreign company, which does … More MAT on FIIs – leading to clarify the tax uncertainty

Fine prints of Budget 2015 : Financial services perspective

The Finance Minister (FM), Mr Arun Jaitley, presented the highly anticipated Union Budget for 2015–16 on 28 February 2015, in what he described as a far more positive economic environment with India’s economy poised to take off on an improved growth trajectory. The proposals of the Finance Bill, 2015 (FB 2015) seek to propel the … More Fine prints of Budget 2015 : Financial services perspective