Taxability of any income under the Indian Income tax Act, 1961 (‘the Act’) depends primarily on residential status of a person. For instance, a person considered as Resident and Ordinarily Resident under the Act is […]
Imagine a situation where Mr. A, a non-resident, had purchased 100 shares of ABC Ltd. on a recognised stock exchange on 08.06.2016 for Rs. 550 per share. Today the price of shares of ABC Ltd.
The Government of the United States of America (USA) enacted Foreign Account Tax Compliance Act (‘FATCA’) in 2010 with an intention to curb tax evasion by U.S. citizens and residents maintaining accounts in foreign countries
The Pension Fund Regulatory and Development Authority (‘PFRDA’) passed a circular On 29.10.2019, allowing Overseas Citizen of India (‘OCI’) to subscribe to the National Pension System (‘NPS’) in India. This came after a notification was
Overseas Citizens of India now permitted to invest in NPS Read More »
Regulations relating to maintenance of bank accounts by Non Resident Indians (‘NRIs’) are governed by the Foreign Exchange Management Act, 1999 (‘FEMA’). An NRI is an individual resident outside India (as per FEMA) who is
Many NRIs prefer having insurance policies in India with a planning that they may eventually settle down in India. Also, many would have already taken insurance cover before moving abroad. This write-up covers the broad
Settlement money on Insurance policies – FEMA and Income tax in India Read More »
