Income Tax Update | Government grants further extension in timelines of compliances
• Legal Update: o Government announces tax exemption for expenditure on Covid treatment and ex-gratia received on death due to
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• Legal Update: o Government announces tax exemption for expenditure on Covid treatment and ex-gratia received on death due to
Topic 1 | Identification of Non-Filers of Income Tax Return • Legal Update: o The Income tax office has announced
Date of Approval – 23 June 2021• Effective Date of Implementation of Accounting Rules – 1 April 2021• Legal Framework
1. GST UpdateDate of Notification – 28 May 2021 Legal Framework – The Goods & Services Tax Act, 2017 and relevant
India is one of the fastest growing economies in the world. Doing successful business in India’s complex and diverse markets requires long-term planning, a deep understanding of consumers, patience, and a location-by-location strategy.
HLS Global supports multinational companies with devising the best strategy to do successful business in the Indian market. We help clients and investors with their India entry strategy, incubation and business setup, operations, and advisory. With a presence of bilingual professionals in our US, Mexico, Tokyo and New Delhi offices, we help our clients assess the market and navigate them the ever-dynamic culture of India. Please contact us to get in touch with our India market entry professionals.
By 2022, the construction market in India is expected to emerge as the third-largest globally. 100% FDI is allowed under the automatic route for urban infrastructures such as urban transport, water supply, and sewage treatment
Broadband for all villages by 2022 – to increase present route length of the optical fibre cable from 2.2 million kilometres to 5 million kilometres
FDI norms in 15 sectors liberalized. Distinction between Foreign Direct Investment and Foreign Portfolio Investment eliminated
Indian Railways plan to run on 100% electricity by 2024 and become a net-zero emission network by 2030 – rail infrastructure will see an investment of USD 700 billion by 2030
Annual renewable energy target of 450 GW by 2030 – to increase the country’s share of non-fossil-based installed electric capacity to 40 percent by 2030
The government of India aims to construct 65,000 km of national highways at a cost of USD 741 billion by 2022
Combined outlay of about USD 22.5 billion to create 100 Smart Cities and rejuvenate 500 cities (AMRUT)
USD 1.5 billion ‘fund of funds’ created to support Startups. Specific inputs to promote the growth of startups in India
Combined outlay of USD 10 billion for Clean India Mission and Clean Ganga. USD 6.5 billion for SWM plants and community toilets
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