The Income Tax Department will soon notify rules specifying the class of investors and norm of valuation for implementation of the Budget provision of taxing foreign investment in unlisted companies. The modified valuation rules would provide for ascertaining the fair market value (FMV) of shares of unlisted companies to levy tax on non-resident investments, an official said.
In a span of just six years, India, primarily a cash-based economy, now leads the world in real-time digital payments, accounting for almost 40 per cent of all such transactions. The mass adoption of UPI during the COVID-19 pandemic has extended far beyond the urban to even rural India, an effect that left the experts in amazement.
Addressing the India-Australia CEO forum in Mumbai on Thursday, Albanese expressed his sincere appreciation for the large turnout of Australian investors that came to India as well as for the key Indian business houses that participated in the event.
Raimondo is in Delhi for the India-US Commercial Dialogue and India-US CEO Forum meet on March 10 to discuss cooperation in various sectors that could unlock new trade and investment opportunities between the two countries.
“Data till February shows that we will cross $750 billion of exports in a few days… Both merchandise and services are growing. Services are growing faster,†Goyal said at an event organised by the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) in Mumbai.
This will be only the second VRR auction conducted by the RBI since February 2020. The previous VRR auction was conducted on Feb. 10 for Rs 50,000 crore.
The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy (issues like tax and anti-corruption). India has opted out of the trade pillar and has decided to join the remaining three subjects pertaining to supply chains, clean economy and fair economy.
Delivering the keynote address at the 17th FEDAI conference at Cairo on Sunday, Rao said as the economy grows and becomes more developed, the scope of participation in foreign exchange markets would change.