ll investors related to mutual funds (MF), bank account holders and those who have invested in insurance schemes cannot operate their accounts opened between July 1, 2014 and August 31, 2015, from May 1 if they are not compliant with FATCA — tax information sharing law.
Customs officials have registered a few cases, where demonetised banknotes were sent abroad by courier, and seized over Rs 1 lakh in such notes, a senior official said today.
After residents, NRIs and People of India Origin (PIO) are now braving long queues to exchange the old Rs 500/1000 notes at 5 designated RBI branches across the country but because of stringent conditions several of them have had to return disappointed.
The RBI will remove restrictions on cash withdrawals after assessing market situation, Finance Minister Arun Jaitley said today even as he ruled out interfering with the conditions barring anyone other than NRIs and Indians returning from abroad from depositing the junked notes in select central bank branches.
NRIs and Indian nationals abroad can deposit up to Rs 25,000 of the demonetised currency during the 3-6 month grace period, but only if they show the junked notes to Customs officials at the airport and get declaration form stamped.
Even as Raghuram Rajan's three-year term comes up for renewal this September, the Reserve Bank of India Governor can rest easy. Here is a scorecard, largely of achievements (and one cringe-worthy statement from Rajan himself) that have underscored the man‘s tenure.
"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 74 percent of the paid up capital of DEN Networks Limited under the Portfolio Investment Scheme (PIS)," RBI said in a notification.
As per data available on BSE, FIIs held 22.16 percent stake in the company as of quarter ended June 2015.
The company further said that it targeted raising Rs 300 crore through the bonds but the bids were received for Rs 2,175 crore for placing the bonds on private placement route.
Under the Aadhaar project, the Unique Identification Authority of India (UIDAI) is providing a unique identity numbers to residents, which can be digitally verified using the database.
Banks do lend to non-resident Indians (NRI). However, do not ignore the terms of the loans and the costs associated with them.
The Reserve Bank on Thursday allowed non-resident Indians (NRIs) to invest in chit funds on non-repatriation basis without any ceiling, a move that will encourage flow of capital into the country.
Before leaving India to work in a foreign country, it makes sense to close some ' to do' money issues.
Non resident income in India can be classified into two categories. And one would be better off learning about the rules that decide how much tax is to be recovered from non resident.
Resident foreign currency account can be used by resident Indians and NRIs who have permanently settled in India after staying overseas for at least one year to maintain foreign currency deposits.
Tax violations in countries like USA can be considered to be a serious breach of conduct and attract heavy penalties
Top management officials of the major office occupiers in each of the respective cities along with NRIs and HNIs are the typical target audience in the villa segment. Typical second home buyers looking at villas as holiday homes are also a potential target for this segment.
The apex court refused to open the sealed envelope, saying that the documents will be placed before the special investigation team. The SIT has been asked to wrap up its investigations by March next year.
The problem arises when they are told that as per the globally accepted norms, if a taxpayer is resident in one country but has a source of income situated in another country, there is a situation at hand where his income is taxed in both countries, or Double Taxation occurs.
RDs offer its customers an approach, based on a precise goal, for investments at alluringly high rates. Thus, no matter you want to build a fund for your child‘s education, or buying a house/car, or a dream holiday, RD will help you save a little every month towards achieving your financial goals.
The RBI decision comes after Manappuram Board passed a resolution to enhance the limit for purchase of its equity shares and convertible debentures by FIIs. FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS).
Who can forget 2007? Not 2008, I meant 2007. Market euphoria had taken over the world. Every day's delay in investing in equity markets meant a loss in potential earnings.
Under the norms notified on Wednesday, 26 percent foreign investment, including foreign direct investment (FDI), Foreign Institutional Investors (FII) and Non-Resident Indians (NRI) will be allowed under the automatic route in insurance companies, insurance brokers, Third Party Administrators (TPAs), surveyors and loss assessees.
The Department of Industrial Policy and Promotion has allowed investment by FIIs and NRIs in the insurance companies, within the stipulated cap of 26 percent.
There are a number of documents required for a home loan. Thus, it is always preferable to keep them ready and updated to cut the hassles.