Search Results for: foreign investors

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India needs 'predictable' tax regime, says Jayant Sinha

New Delhi, Jan 29 (ANI): India needs a 'simple, predictable and fair' tax regime to restore foreign investor confidence, said Minister of State for Finance Jayant Sinha on Thursday. On Wednesday, the Bombay High Court dismissed a tax notice amounting to Rs 3,200 crore sent against Vodafone, ruling that there is no taxable income on share premium received on the issue of shares. After the ruling, the Centre decided to not appeal against the judgement, however stressing that while many cases are currently sub-judice, every case has to be looked at differently. Jan 29, 2015
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Foreign Secretary Dr S Jaishankar meets EAM Sushma Swaraj

New Delhi, Jan 29 (ANI): Foreign Secretary Dr S Jaishankar met External Affairs Minister Sushma Swaraj in her office on Thursday. Earlier in the day, Dr S Jaishankar took charge as the new Foreign Secretary, replacing Sujatha Singh whose tenure has been curtailed by nearly seven months. The decision was taken last night by the Appointments Committee of the Cabinet chaired by Prime Minister Narendra Modi. As per the order issued by the Department of Personnel and Training, Dr Jaishankar will have tenure of two years from the date he assumes charge. Meanwhile, Sujatha Singh's two-year tenure was to end in August this year. Jan 29, 2015
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Govt defends decision to slash foreign secretary Sujatha Singh's tenure

New Delhi, Jan 29 (ANI): The BJP on Thursday claimed there is no politics involved in appointing S Jaishankar as the new foreign secretary. Jaishankar, India's Ambassador to the US, was on Wednesday suddenly appointed as the Foreign Secretary by Narendra Modi government, replacing Sujatha Singh, who has in effect been sacked. Singh's tenure was abruptly "curtailed" by nearly eight months. Jan 29, 2015
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S Jaishankar takes charge as Foreign Secretary of India, says honoured to be assigned such responsib

New Delhi, Jan 29 (ANI): S Jaishankar on Thursday took charge as the new Foreign Secretary of India in Delhi. Jaishankar reached the Ministry of External affairs and took over the office assigned to him. While talking to mediapersons, he said that he was honoured to be assigned with such responsibility and looked forward for the same. He replaced Sujatha Singh who was sacked by the central government late Wednesday evening. Singh's two-year tenure was to end in August this year. Jan 29, 2015
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Modi govt sacks Sujatha Singh as foreign secretary, S Jaishankar to take charge today

New Delhi, Jan 29 (ANI): In a significant development, Foreign Secretary Sujatha Singh’s tenure was “curtailed”- six months early - and India’s ambassador to the US, S Jaishankar was appointed as the new Foreign Secretary. The Modi government on late Wednesday evening announced the abrupt “curtailment of tenure of foreign secretary Sujatha Singh with immediate effect”. The surprise announcement was made after a meeting of the Appointments Committee of the Cabinet chaired by Prime Minister Narendra Modi. S Jaishankar, who is a batch junior to Singh in the service, will be the new foreign secretary and will take charge of the office today. According to sources, PM Modi had been unimpressed with Singh and her work. There had also been talks of a change for some time, but Foreign Minister Sushma Swaraj is said to have wanted Singh to stay on. Jan 29, 2015
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Government not to appeal Vodafone tax ruling

New Delhi, Jan 29 (ANI): The central government will not appeal a regional court ruling in favour of Vodafone Group Plc in a long-running tax dispute, the cabinet decided in a move aimed at boosting investor confidence in Asia's third-largest economy. Vodafone, the biggest foreign corporate investor in India, has been involved in a series of tax disputes since it entered the country seven years ago. In one such case, India's tax office had accused a unit of the British group of under-pricing shares in a rights issue to its parent company and demanded tax of about 30 billion rupees. The Bombay High Court had in October ruled in favour of Vodafone, and later the attorney general had recommended the government to refrain from appealing that ruling at the Supreme Court. Communications and IT Minister Ravi Shankar Prasad said the decision was in direction to assure investors of a fair and just Indian government. Jan 29, 2015
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