The government has allowed multinationals flexibility in valuing their transfer of intangibles such as brand to their Indian subsidiaries without any fear of the tax department. The new rule will allow More

Bureau of Indian Standards (BIS) has finalized an Indian Standard on basic requirements for street food vendors as food safety More

BPO firm WNS has acquired Fusion Outsourcing Services (Pty) Ltd., a South Africa-based BPO provider, for GBP 10 million ($15.6 million) in cash plus adjustments for cash and working capital. More

Real estate developer Lodha Group has bought Washington House from the US Consulate for over Rs. 375 crore of More

Real estate firm DLF Ltd. has completed the sale of its hotel subsidiary, DLF Hotels & Hospitality, to a Kolkata- More

Republic of Finland signed an agreement on social security on 12th June 2012. The agreement was signed by Shri Atul Kumar Tiwari, Joint Secretary, Ministry of Overseas Indian Affairs on behalf of Government of India and by Ms. Terhi Hakala, Ambassador of Finland to India on behalf of Government of Finland, i More

India signed an Agreement with the Government of the Kingdom of Bahrain for the Exchange of Information with respect to taxes (TIEA). The Agreement was signed by Shri Namo Narain Meena, Minister of State for Finance (Expenditure and Financial Affairs) on behalf of Government of India and H.E. Kamal Ahmad, Minister for More

The Anand Marriage (Amendment) Bill, 2012 after having received the assent of the President on 7th June, 2012, has been published as corresponding Act in the Gazette of India. The two other Bills which have also received the assent of the President More

Pranab Mukherjee has approved the Advance Pricing Agreement (APA) scheme, pertaining to transfer pricing regulations. More

The Delhi Assembly has passed the Court Fees (Delhi Amendment) Bill, 2012 which seeks to make More

On a complaint filed by the Builders Association of India, the Competition Commission of India (CCI) has slapped a fine of 0.5 times of the net profit for the years 2009-10 from 20.05.2009 and 2010-11 against cement companies for forming a cartel. More

The Supreme Court has held that a High Court cannot substitute its views with that of the Public Services Commission (PSC) that is tasked with the conduct of screening tests. More

In a significant case the Delhi high Court has held that under the Right to Information Act, every citizen is entitled to know the donations given by the President of India, as these are made out of public funds. More

In a landmark judgment the Madras High Court has held that the three per cent quota in government service for the disabled is only for initial appointments, and the government cannot be directed to extend it for promotions. More

The Madhya Pradesh High Court has upheld a lower court judgment that cancelled the election of a eunuch as mayor on grounds that she contested from a seat reserved for Scheduled Caste women, and that eunuchs can't be categorized as women. The Court held that a eunuch cannot qualify as a woman. More

Vide its Circular no. RBI/2011-12/589 DBOD. No. Dir. BC.107/13.03.00/2011-12 dated June 5, 2012, the RBI has announced that banks will not charge foreclosure charges/pre-payment penalties levied on home loans on floating interest rate basis, with immediate effect. More

The Government has rationalized the policies relating to FII Investments in Government Securities, Corporate Bonds, Long-Term Infra Bonds and ECB of Indian Companies and QFI. The following changes have been made therein: More

Vide its Notification No. 21/2012 [F.No.142/10/2012-SO(TPL)] S.O. 1323(E), dated 13th June, 2012 Central Board of Direct Taxes has notified More

Vide its Circular no. RBI/2011-12/626 A.P. (DIR Series) Circular No. 137 dated June 28, 2012, the Reserve Bank has notified changes in the FDI policy to allow FIIs to invest up to 23 percent in commodity exchanges without seeking its prior approval More

Vide its Circular no CIR/ IMD/ FII&C/ 13/ 2012, Dated June 07, 2012, RBI has revised the definition of QFI. More