Market participants attributed the robust inflows to positive investor sentiment
Taxing SoftBank, the largest shareholder in Flipkart with a little over 20 per cent stake, however, will be easier.
In a recent Facebook interaction, Andrew Michael Spence, who got the Nobel Prize in Economics in 2001 with Joseph Stiglitz and George Akerlof, said India had suffered self-inflicted wounds to lower investor confidence.
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
Tax experts said as a result of the amendments, companies operating from countries with which India didn't have DTAAs, would try to shift to countries with which India had such agreements, including Mauritius.
Chidambaram had expressed unhappiness over the manner in which the two major contributors to the subsidy bill, petroleum and fertilisers, were handled prior to his appointment.
The rupee's upward movement was aided by a good dose of dollar selling by exporters and some banks, amid a weak dollar overseas, said forex dealers.
Pledging to alter the policy environment to accelerate economic growth, Prime Minister Manmohan Singh on Saturday promised to address concerns on GAAR and taxation of the IT sector along with giving high priority to finalisation of the Direct Taxes Code and Goods and Services Tax.
He sought to know from the industry if it wanted India to become a no-tax country.
Chidambaram was also hopeful that fiscal deficit will be contained within the targeted 5.3 per cent of the GDP this fiscal and trimmed to 4.8 per cent in the next.
Foreign investors are preferring to access the Indian market through the sub-account route rather than coming in as foreign institutional investors (FIIs), thanks to stricter regulatory norms and tax-related concerns related to the proposed general anti-avoidance rules (GAAR).
Confusion over India's new tax rules, slow rate cuts, and a weakening rupee could create a stock-picking environment.
The General Anti-Avoidance Rule (GAAR) may have been deferred for a year but many foreign institutional investors (FIIs) do not want to take chances. They are shifting their trading positions to Singapore, where derivatives of India's key equity index, the Nifty, are listed.
As many as 44 shareholders of Flipkart sold their holdings to Walmart. The income tax law requires the buyer to withhold tax while making payment to the sellers, in case they are not exempted from levy of capital gains tax.
the government will introduce some of its key provisions, such as General Anti-Avoidance Rules, in Budget 2012-13.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
While for the consumers, there is some gain and some pain, for India Inc, it's all about compliance, consolidation and parity
Fiscal consolidation is keenly awaited.
To begin, the Budget has no doubt attempted to address uncertainty.
Portfolio investors based out of the US and other countries with which India does not have favourable tax treaties will have to pay a 15 per cent tax on their derivative transactions, after the Budget decided to classify income from all foreign portfolio investment as capital gains.
The Budget has relaxed a few safe harbour rules that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
Experts hail Budget 2015 as a progressive, growth oriented one.
India is often viewed as an aggressive tax jurisdiction by domestic and overseas taxpayers, and making the charter as part of the Act may help restore confidence among taxpayers.
The previous United Progressive Alliance government had undertaken some decisions, like introduction of retrospective tax amendments and GAAR, which had dented investor sentiments.
India can attract significant FDI, says experts.
Overseas funds have been spooked by several policy measures taken by the government in the past few years
Chief Economic Advisor Arvind Subramanian's interview.
Finance Minister Arun Jaitley presented the Union Budget.
The panel's recommendations will be aimed at making a predictable and non-adversarial tax regime in the economy.
This means taxpayers might continue to enjoy exemption on maturity of their investments
HUFs are not used for tax evasion but for tax avoidance/to save the tax within the four corners of the law. Experts say that there will be little or almost insignificant change in tax revenues.
She said during Question Hour in Rajya Sabha that Bharatiya Janata Party got a massive mandate on the basis of its election manifesto which opposes FDI in multi-brand retail.
Markets at close: Sensex ends in green; Nifty rises to new closing peak.
Even if a company does not invest, it will improve liquidity of banks.
It accounted for over a third of foreign direct investment flows into India between 2000 and 2015
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
Pitching for a non-adversarial tax environment, India Inc on Tuesday suggested reduction in tax rates on corporate as well as individuals to boost economic growth.
Amid tax treaty uncertainties, India's share of the number of investments made by global companies through Mauritius has almost halved in the past two years even as Africa's share has surged significantly.
Finance minister tries to put house in order before reforms are unveiled in February.
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