MRK REDDY & Co - Chartered Accountants

02/05/2015

Foreign Direct Investments in India.


Recent Policy Measures
• 100% FDI allowed in medical devices
• FDI cap increased in insurance & sub-activities from 26% to 49%
• 100% FDI allowed in the telecom sector.
• 100% FDI in single-brand retail.
• FDI in commodity exchanges, stock exchanges & depositories, power exchanges, petroleum refining by PSUs, courier services under the government route has now been brought under the automatic route.
• Removal of restriction in tea plantation sector.
• FDI limit raised to 74% in credit information & 100% in asset reconstruction companies.
• FDI limit of 26% in defense sector raised to 49% under Government approval route. Foreign Portfolio Investment up to 24% permitted under automatic route. FDI beyond 49% is also allowed on a case to case basis with the approval of Cabinet Committee on Security.
• Construction, operation and maintenance of specified activities of Railway sector opened to 100% foreign direct investment under automatic route.

https://goo.gl/XwCGaw

Foreign Direct Investments in India.

i. Automatic Route
ii. Government Route

01/05/2015

Compulsory E-filing of Income Tax Returns for income above 5 Lakhs

The government in a recent notification has finally made it mandatory for taxpayers having annual income above Rs. 5 lakh to file their income tax returns electronically. Previously the limit was Rs. 10 lakh. The step has been taken by the government to move towards technology and to minimise the interface between the Assessing Officer (AO) and the assessee.

30/04/2015

GST (Goods And Service Tax) to be implemented from 01-Apr-2016.