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India Budget 2018-19

Volume 5 No 3    /    Read Article

By Jairaj Purandare (guest author)

The Indian government announced its plans for the 2018–2019 budget year. It is the last full budget before the 2019 Parliamentary elections and the first budget following the implementation of the landmark national G.S.T. regime. Tax is reduced to 25% for domestic companies generating income of approximately $40 million or less. The definition of the term “business connection,” the equivalent of a P.E. under domestic law, is broadened to cover agents having and habitually concluding contracts and circumstances where a nonresident has a significant economic presence. A 10% tax is imposed on certain stock market gains. Incentives are given to international financial services companies in the form tax exemptions for certain gains. These and other provisions are explored by Jairaj Purandare of JPM Advisors Pvt Ltd, Mumbai, India.    See more →