Govt to amend law to exempt foreign firms from MAT
Source: PIB, Government of India After due consideration of the various aspects of the matter, the government of India has decided that with effect from 01.04.2001, the provisions of Section 115JB shall not be applicable to a foreign company if — The foreign company is a resident of a country having DTAA (Double Taxation Avoidance Agreement) with India and such foreign company does not have a permanent establishment within the definition of the term in the relevant DTAA, or The foreign company is a resident of a country which does not have a DTAA with India and such foreign company is not required to seek registration under Section 592 of the Companies Act 1956 or Section 380 of the Companies Act 2013. An appropriate amendment ...
Centre to take steps to develop inland waterways and use of alternative fuel
The Dollar Business Bureau “The Government is taking steps to develop inland waterways and use of alternative fuel,” said Nitin Gadkari, Union Minister for Shipping and Road Transport & Highways. Gadkari said that his ministry has been taking initiatives not only towards “Clean India” but also in the direction of a “pollution-free India”. Speaking on the occasion of Kamarajar Port Limited (KPL, erstwhile Ennore Port Limited) signing an agreement with M/s Toyota Kirloskar Motor Pvt. Ltd. for export of automobile units through Kamarajar Port in his presence, Gadkari asserted that the Government is conscious about the concerns of the employees of ports. No employee would lose his job due to the modernization and up gradation of ports in the country, he ...
