Monday , November 2, 2026 |   14:34:46 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
I-T - Section 244A interest is not taxable at NIL under MFN clause importing India-US DTAA benefit: ITAT (See Breaking News) TP - Reference u/s 92CA(1) is transaction-specific and does not confer upon TPO a general jurisdiction to determine assessee's taxable income or applicability of treaty provisions: ITAT (See Breaking News) I-T - Territorial jurisdiction is governed by location of AO who passed assessment order - cannot be conferred based on situs of First Appellate Authority: ITAT (See Breaking News) TP - Notional interest adjustment on receivables is impermissible where receivables have not become overdue within relevant accounting period: ITAT (See Breaking News) TP - Assessee is entitled to challenge comparable before DRP even if it accepts the same before TPO - comparability is to be determined in keeping with statutory requirements & relevant FAR analysis: ITAT (See Breaking News) TP - Rate charged by State Electricity Board to industrial consumer should be taken as market value for transfer of electricity from eligible unit to non-eligible unit: ITAT (See Breaking News) TP - TPO cannot reject assessee's selection of AE as tested party for export transactions and substituting GPL India as tested party: ITAT (See Breaking News) I-T - Interest received from and paid to overseas head office and branches is not taxable at hands of PE applying doctrine of mutuality: ITAT (See Breaking News) I-T - Mere fact that for limited purpose of attribution of profits under DTAA, a Permanent Establishment is treated as separate enterprise, does not alter fundamental legal position that Head Office and branch continue to constitute same juridical person: ITAT (See Breaking News) TP - Interest rate on intra-group loans should not be benchmarked using CUP method: ITAT (See Breaking News) TP - Mere attribution of percentages to functions, assets and risks, without reliable basis for quantifying respective economic contributions, cannot, by itself, establish ALP of licence fees: ITAT (See Breaking News) TP - If assessee has filed financials of AEs to establish that payment received from assessee were subjected to taxation in their respective jurisdiction, benefit test has no relevance in determining ALP: ITAT (See Breaking News) TP - Notional interest adjustment on debt-free company is not sustainable: ITAT (See Breaking News) TP - Working capital adjustment, foreign exchange fluctuation adjustment, and capacity utilization adjustment, shall be applied to international transactions: ITAT (See Breaking News) TP - Royalty payment made by assessee to its AE cannot be subjected to TP adjustment when royalty is not embedded in import price: ITAT (See Breaking News) TP - Penalty u/s 271BA cannot be sustained where foundational provision, namely section 92BA(i), is already omitted when penalty proceedings were initiated & the penalty order was passed: ITAT (See Breaking News) I-T - Services rendered by individual based on his personal expertise, market knowledge & industry experience cannot automatically be characterised as FTS just because they have consultancy attributes: ITAT (See Breaking News) DTAA - Borrowed services fees does not satisfy 'make available' requirement under Article 13(4) of India-UK DTAA: ITAT (See Breaking News) I-T - Profits attributable to non-UK resident partners of UK partnership firm providing legal services in India cannot be taxed as Fees for Technical Services u/s 9(1)(vii): ITAT (See Breaking News)
 
TII SEARCH
 
 
   
Home >> News Brief
 

India's growth to rebound 11% in FY22, says ADB
By TII News Service
Apr 29, 2021 , Manila

    

THE Asian Development Bank (ADB) projects India's Gross Domestic Product (GDP) will rebound strongly by 11 per cent in 2021-22 due to continued economic recovery boosted by increased public investment, vaccine rollout, and a surge in domestic demand. However, it cautioned that the surge in COVID-19 cases and irregular vaccine deployment could hurt the recovery.

In its flagship Asian Development Outlook (ADO) 2021, ADB forecasts India's economic growth to moderate to 7 per cent in FY22 as base effects disappear. The economy is expected to have contracted by 8 per cent in FY21 in line with the government's second advance estimate.

India's economy faced its worst contraction in FY21 due to the COVID-19 shock. With large government stimulus and the ongoing vaccination drive, economic activity will continue its recovery started from the third quarter of FY21 and rebound strongly in the current fiscal year with an uptick in domestic demand, especially in urban services, said the ADB.

"The government's boost to public investment through its infrastructure push, incentives for manufacturing, and continued support to boost rural incomes will support India's accelerated recovery," said ADB Country Director for India Mr Takeo Konishi.

An uncertain pandemic trajectory with a prolonged second wave despite the vaccination push could affect India's economic normalisation, it warns.

The forecast, however, expects the economic impact of the second wave to be relatively muted compared to the first wave in line with global experience. Other downside risks include further tightening of global financial conditions on fast recovery in developed countries, which would apply pressure on India's market interest rates.

Inflation, after rising to 6.2 per cent in FY21, is projected to moderate to 5.2 per cent in FY22 as good harvests and supply chain recovery contain domestic food inflation. It is further expected to ease to 4.8 per cent in 2022-23 on moderating domestic demand as the economy returns to normal.

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR
  • MAP
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • UN Model Taxation
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • FDI Circulars
  • RBI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • Multimodal Transportation
  • Vienna Convention
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2025 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.