Business Events Which Made Headlines In 2012


3. GAAR Introduced In the Union Budget for Fiscal Year 2013 on March 16

This year there was uproar against the General Anti Avoidance Rule (GAAR) was announced by former Finance Minister Mr. Pranab Mukherjee. GAAR is a set of rules that will enable the tax officials to see if any foreign entity through any Indian resident, directly or indirectly was setting up companies in different countries to check their taxation. Income tax exemption prior to individual tax payers was also raised.

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4. BMW Launches Mini in India on April 6

The country’s largest luxury car manufacturer BMW India Private Limited launched the legendary luxurious car Mini Cooper in India which is also the 100th market of the car. Though BMW had planned to launch the car in the year 2009 but the market conditions didn’t allow doing so. Finally in 2012 Mini Cooper was launched which starts 25 lakhs onwards.

5. Maruti Suzuki Launches Ertiga on April 12

The car manufacturer, Maruti Suzuki unveiled the industries’ first multipurpose utility car Ertiga in India. The car is priced between 5.89 to 8.45 lakhs. Both petrol and diesel versions of the car are available. The car portrays Suzuki’s ability to bring altogether style, compactness and fuel efficiency into utility vehicles. The car was purposefully designed for Indian families that are always active and stays connected.

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