In this issue:
- An Overview of India’s Business Taxes
- Individual Income Tax Rates and Deductions
- India’s Tax Reforms in 2013
Recent tax amendment controversy creates an excellent opportunity to provide an overview of the relevant taxes for foreign-invested entities in India, including the most important points for 2013 – goods and service tax (GST) reform, proposed tax revisions under the 2013-14 Budget, the entry into force of several double taxation agreements (DTAAs), and new General Anti-avoidance Rules (GAAR).
In this issue of India Briefing, we begin with an overview of India’s taxes on business, which includes a section on India’s double taxation avoidance agreements, and then discuss individual income tax rates and deductions. Finally, we discuss India’s tax reforms in 2013, including an article by Chandrahas Choudhury, New Delhi correspondent for Bloomberg View, “Can India Tax Itself to Prosperity?”