Taxmann’s Guide to Foreign Direct Investments in India with FDI Policy

April 25, 2012 - PRLog -- "We are pleased to announce release of  Taxmann’s Guide to Foreign Direct Investments In India With FDI Policy Effective From 10th April, 2012.

Taxmann’s Guide to Foreign Direct Investments In India is a complete and comprehensive Guide to Consolidated FDI Policy issued on 10th April, 2012.  

Liberalisation in industrial policy and policy towards foreign investment in India was initiated in 1991.  The liberal policies introduced in 1991 are continuing and Indian economy is becoming more and more open and liberal every year.

Policy in respect to foreign investment in India (FDI) is regulated by Department of Industrial Policy and Promotion (DIPP) (FC section).  So far, the practice followed was to issue press notes in respect of industrial  and foreign investment policy.  The press notes were scattered and a single policy document was not available.  

RBI has an excellent practice of issuing master circulars on various issues.  These have sunset provision that they are valid for one year and expire on 30th June every year.  New Circulars are then issued.

On the same lines DIPP has decided that a consolidated circular would be issued every six months to update the FDI Policy.  Accordingly first Consolidate FDI Policy circular was issued by DIPP of MC&I vide Circular No. 1 of 2010 dated 31-3-2010,  All earlier Press Notes/Press Releases/Clarifications on FDI issued by DIPP which were in force and effective as on March 31st 2010 were rescinded as on March 31st, 2010.  The circular was effective from 1-4-2010,

Subsequently, consolidated circulars were issued on 30-9-2010, 31-3-2011 and 30-9-2011.  

Now a consolidated circular has been issued vide Circular No. 1/2-012 dated 10-4-2012.  It has been clarified that next circular will be issued on 29-3-2013 to be effective ffrom 1-4-2013

The book “Guide to Foreign Direct Investments in India with FDI Policy Effective From 10th April, 2012” is priced at ` 375 and is a must buy for Multi National Companies, Chartered Accountants, Company Secretaries.