Should foreign portfolio investors be worried about MAT?
Background Minimum Alternate Tax (“MAT”) is a tax levied under the Income-tax Act, 1961 (“IT Act”) on the book profit of a company where the overall...
Critique of the undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015
In his budget speech on February 28, 2015, the Finance Minister (“FM”) made it clear that black (unaccounted) money was eating into the Indian...
India’s Supreme Court upholds the right to freedom of speech and expression
Introduction On March 24, 2015, the Hon’ble Supreme Court of India (the “SC”) pronounced its judgment on constitutional validity of Sections 66A,...
India – key changes affecting foreign investment in the insurance sector
Introduction On December 26, 2014, the President of India promulgated the Insurance Laws (Amendment) Ordinance, 2014 (the “Ordinance”) to amend the...
Proposed amendment to India’s arbitration law: will it have the desired effect?
Introduction The Arbitration and Conciliation Act, 1996 (the “Act”), was enacted by the Parliament of India to consolidate and amend the law...
Recent changes to India’s foreign exchange regulations
This update discusses certain key changes to India’s foreign exchange regulations implemented in the past few weeks Liberalization of the limit...