It had been decided to switch to exclusive e-publishing of all Gazette Notifications of Government of India with effect from 1st October, 2015. It has been decided that the physical printing and sale of hard copies of Gazette by the Government shall completely cease. This measure is in line with provisions of Section 8 of…
With a view to enabling NRIs’ access to old age income security, it has now been decided, in consultation with the Government of India, to enable National Pension System (NPS) as an investment option for NRIs under FEMA, 1999. Accordingly, NRIs may subscribe to the NPS governed and administered by the Pension Fund Regulatory and…
The Hon’ble Supreme Court vide its interim orders dated July 4, 2012 and September 14, 2015, passed in the case of the Bar Council of India vs A.K. Balaji & Ors., has directed RBI not to grant any permission to any foreign law firm, on or after the date of the said interim order, for…
Based on the recommendations of Foreign Investment Promotion Board in its meeting held on 29th September 2015, the Government has approved 16 (sixteen) proposals of Foreign Direct Investment amounting to Rs. 4,722 crore. The following 16 (Sixteen) proposals have been approved: Sl. No. Item No. Name of the applicant Gist of the proposal Sector FDI…
The Reserve Bank of India has recently permitted Indian corporates to issue rupee denominated bonds outside India. The matter of taxation of income from such bonds under Income-tax Act, 1961 has been considered by the Government. In so far as taxation of interest income from these INR off-shore bonds in the case of non-resident…
F.No. 225/26112015/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 28th of October, 2015 To All Pr.CCsIT/CCsIT/Pr.DsGIT/DsGIT Subject: Representation of cases before Authority for Advance Ruling-reg.- Sir/Madam As per provisions of sub-section (6) of section 245R of the Income-tax Act, 1961 [Act], the Authority…