The introduction of the concept of ‘international workers’ in India was made by the Government of India in the year 2008. Vide its notification dated October 1, 2008, the Government of India introduced Paragraph 83 (Special provision in respect of International Workers) in the Employees’ Provident Fund Scheme, 1952 and Paragraph 43A (Special provisions in […]
The Delhi High Court in the judgment rendered recently in the case of Johnson Matthey Public Ltd Company vs CIT, International Taxation [2024] 162 taxmann.com 865 (Delhi) has held that guarantee charges received by a non-resident company from Indian subsidiaries for acting as guarantor to various banks to extend credit facilities to said Indian subsidiaries […]
In the landscape of corporate governance and regulatory compliance in India, the concept of significant beneficial ownership (“SBO”) has lately emerged as a critical focal point. This heightened attention is primarily due to a series of rigorous actions taken by the various Registrar of Companies (“RoCs”) against notable entities, including multinational giants such as LinkedIn […]
The Supreme Court of India in the case of Assessing Officer vs. M/s Nestle SA and Others, elucidated law relating to applicability of the Most Favoured Nation (“MFN”) clause in the protocol(s) for availing benefit of a DTAA entered into by India which are beneficial and restricted in scope. The Supreme Court in its decision […]
The Bharatiya Sakshya Adhinyam, 2023 (BSA) replaces the Indian Evidence Act of 1872 (IEA) and it was approved by both the Lok Sabha and Rajya Sabha on December 20 and December 21, 2023, respectively, before receiving presidential assent on December 25, 2023. The key objectives of BSA are to modernize, simplify, and streamline how evidence […]
SWFs are investment fund engines owned by the Government to achieve pre-determined objectives of the Government. The Government invests through SWFs, inter-alia, to diversify their assets, to secure better gains on their investment, to tap into new jurisdictions, to promote industrialization, etc. The SWFs investment activities have grown substantially with SWFs having over USD 11.5 […]
