Bharats Policies Procedures For Non Resident Indians

A guide to NRI's when they plan an investment in India.

India has a comprehensive taxation system that encompasses various taxes at both the central and state levels. Here's an overview: Central Taxes: Income Tax: Governed by the Income Tax Act, 1961, income tax is levied on the income of individuals, Hindu Undivided Families (HUFs), companies, and other entities. The tax rates vary based on the income slab and the type of taxpayer. Goods and Services Tax (GST): GST is a comprehensive indirect tax levied on the supply of goods and services throughout India. It replaced various indirect taxes such as service tax, VAT, central excise duty, etc., and is governed by the GST Act. Customs Duty: Customs duty is levied on the import and export of goods into and out of India. It is governed by the Customs Act, 1962. Excise Duty: Excise duty is a tax levied on the production or manufacture of goods in India. However, with the introduction of GST, most goods are now subject to GST rather than excise duty. Central Sales Tax: CST is levied on the sale of goods from one state to another in India. However, it has been subsumed under GST. State Taxes: Value Added Tax (VAT): VAT was a state-level tax levied on the sale of goods within a state. It has been replaced by GST. State Goods and Services Tax (SGST): SGST is a component of GST that is levied by the state government on intra-state supplies of goods and services. State Excise Duty: State excise duty is levied by state governments on the manufacture and sale of alcoholic beverages and certain other goods. Stamp Duty: Stamp duty is levied by state governments on various instruments such as property transactions, share transfers, and agreements. Local Taxes: Property Tax: Property tax is levied by local bodies such as municipal corporations or municipalities on the value of property owned by individuals or entities. Professional Tax: Professional tax is levied by state governments on the income earned by individuals engaged in professions such as lawyers, doctors, etc. Other Taxes: Capital Gains Tax: Capital gains tax is levied on the profit earned from the sale of capital assets such as real estate, stocks, and mutual funds. Securities Transaction Tax (STT): STT is levied on the purchase and sale of securities such as stocks and derivatives. India's taxation system is governed by various tax laws, rules, and regulations, and it undergoes periodic amendments to align with the changing economic and fiscal landscape. It's always recommended to consult with a tax professional or refer to the latest tax regulations for specific details and compliance requirements.

Narendra Modi’s energetic personal diplomacy and promise to make India a ‘leading power’ surprised many analysts. Most had predicted that his government would concentrate on domestic issues, on the growth and development demanded by Indian voters, and that he lacked necessary experience in international relations. Instead, Modi’s first term saw a concerted attempt to reinvent Indian foreign policy by replacing inherited understandings of its place in the world with one drawn largely from Hindu nationalist ideology. Following Modi’s re-election in 2019, this book explores the drivers of this reinvention, arguing it arose from a combination of elite conviction and electoral calculation, and the impact it has had on India’s international relations.

Analysing the trajectory of Indian foreign policy through Prime Minister Narendra Modi’s vision, this book examines issues related to India’s growing profile at global multilateral forums, economy and trade, soft power, diaspora, and the intersection between foreign policy and national security. The subject matter in this book assesses Indian foreign policy by covering seven broad domains: security, multilateralism, economy and trade, diaspora, climate change, science and technology, and soft power. In addition, it also examines the notable achievements of Indian foreign policy over the past decade, describes Prime Minister Modi’s worldview and how it has been implemented; analyses the changes Modi has brought to Indian foreign policy behaviour and conduct; studies the evolution of Indian foreign policy over the last decade; and explores the new opportunities that could be potentially exploited in the future. Print edition not for sale in South Asia (India, Sri Lanka, Nepal, Bangladesh, Pakistan and Bhutan)