On 28 February 2015, the new Government of India, represented by the Finance Minister, Mr. Arun Jaitley, announced its first full year budget 2015. While there does not seem to be any major changes on the direct tax front, the focus of the budget is to provide confidence in the tax system and to inspire economic growth.
On 10 July 2014, the new Government of India, represented by the Finance Minister, Mr. Arun Jaitley, announced the Union Budget 2014. While there were no major announcements, the budget’s focus is to provide more tax certainty and to reduce litigation.
The new law regulating companies (Companies Act) in India has been enacted and the Corporate Social Responsibility (CSR) rules have been notified, which shall be effective as of 1 April 2014.