The government of Mauritius is likely to issue a new format for the tax residency certificate (TRC) for foreign institutional investors (FIIs), incorporating additional particulars required by the Indian government.
Real estate development on Mumbai airport land and the work on Navi Mumbai airport have been inordinately delayed, which have prompted rating downgrades and raised questions on its financial capabilities. It is also trying to stave off Adani group's entry as a shareholder in the Mumbai airport project.
The visiting minister said that trade and economic relations between the two countries are constantly gaining momentum.
Mauritius on Friday said it has exchanged information related to over 170 cases with India over three years, and the two countries have made big progress on the double taxation avoidance treaty since 2006.
India and the US are among the countries excluded from the list of nearly 60 low-risk countries.
There is a growing concern that many entities are routing their investments into the country through Mauritius to reap undue tax benefits.
A major earthquake of 6.3 magnitude hit Mauritius early on Monday morning. There have been no reports on the casualties and losses yet.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
The Enforcement Directorate (ED) has filed a money-laundering case against renowned cardiologist Dr Naresh Trehan and others in connection with allotment of land for the Medanta Hospital in Gurgaon, officials said on Wednesday.
Reader Gunjan Singh has sent us this photograph with the star.
The South Asian nations could script a new history of cooperation and prosperity that could serve as an example for other nations, notes Dr Rahul Mishra.
According to the Zeitgeist charts released by the search engine giant Google Indians looked for these travel destinations in 2013.
Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.
President Pranab Mukherjee on Tuesday met with Mauritian Prime Minister Dr Navinchandra Ramgoolam at the latter's official house, Clarisse House (but which he doesn't stay in, choosing to reside in his private home instead). The meeting, which lasted over 45 minutes, saw the two sides reinforce and re-establish their close ties.
Mukherjee, who is in Port Louis on a three-day visit, said the Double Taxation Avoidance Convention cannot be seen in isolation, separate from the many strands that weave the tapestry of India-Mauritius relationship and efforts, and it should remain focused on realisation of the full potential of the bilateral ties.
The much-awaited talks between India and Mauritius over renegotiation of their tax treaty may begin soon, with India pushing for changes in the clause on the treatment of the capital gains tax.
Other documents might be needed for investors from other nations
The government on Tuesday said it has received information related to black money from Mauritius and was examining it for appropriate action.
Beginning its campaign in India, the Global Institutional Investors Forum said that Mauritius was fully supporting India's fight against black money and money laundering and it was 'a clean, transparent jurisdiction of substance.'
It is believed that a large majority of them are third country investors which use the Double Taxation Avoidance Convention with Mauritius for saving capital gains tax.
Amidst panic in the stock market over double tax avoidance treaty with Mauritius, government on Monday said India "cannot impose arbitrarily" capital gains tax on investment routed through the island nation.
Sectors which attract maximum foreign inflows include services, computer software and hardware, telecommunications, automobile and trading.
Central probe agency likely to file third chargesheet in some weeks, may name Datacom, Loop Telecom.
In a significant development towards renegotiation of tax treaty with Mauritius, the Finance Ministry has written to the Ministry of External Affairs to take up the issue of including more areas of information exchange in the agreement between the two countries.
The Reserve Bank of India's rather sudden and unilateral decision to discontinue the Asian Clearing Union, a move that effectively stops settlements in dollars and the Euro, will most impact Mangalore Refinery, which sources 60 per cent of its crude needs from Iran.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
'India is a pharma dada. We can manufacture enough for our people and for the world.'
Singapore continued to be the largest source of FDI in India followed by Mauritius, the US, the Netherlands and Japan.
The actor looks breathtakingly beautiful on the magazine cover.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Tusk Investment, Mauritius, a wholly owned subsidiary of private equity firm Elephant Capital, has sought approval from the Foreign Investment Promotion Board (FIPB) to acquire a 30 per cent stake in Amar Chitra Katha Pvt Ltd (ACK).
The government has set up two income tax overseas units at its missions in Singapore and Mauritius and will create such units in eight more countries to facilitate exchange of information on tax-related issues, Parliament was informed on Tuesday.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
India cannot choose its geography and devise regional strategies to dovetail into the Western Indian Ocean hypothesis conceived in the Pentagon, argues Ambassador M K Bhadrakumar.
A tax authority has ruled that Mauritius-based companies will have not have to pay capital gains tax in the country, a decision that will encourage global business entities to route investment from the island nation.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
President Pranab Mukherjee is deeply satisfied with his three-day visit to Mauritius, Saisuresh Sivaswamy reports.
Dismissing the notion that Mauritius is a tax haven, the island nation's Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
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