On July 5, the First full-time Female Finance Minister of India, Ms. Nirmala Sitharaman, presented the budget in the Parliament. While it may be a mixed bag for many, the one category it affect the most, and that too positively, is Non- Residents (NRIs/ PIOs). We have analyzed all the budget […]
A FATCA (Foreign Account Tax Compliance Act) / CRS (Common Reporting Standard) declaration was prepared by financial institutions/ intermediaries to comply with the Central Board of Direct Taxes (CBDT) rules. After signing FATCA agreement with USA and Multilateral Competent Authority Agreement (MCAA) developed by the Organization for Economic Co-operation and Development […]
Individual Mutual Fund Investors, who completed KYC prior to Jan. 1, 2012, are required to submit ‘missing/not available’ KYC (Know Your Customer) information and complete the IPV (In Person Verification) for investing in a new mutual fund after Nov. 30, 2012. SEBI (Securities and Exchange Board of India) vide circular MIRSD/SE/Cir-21/2011 […]
RBI and Indian Government Agencies have made a lot of changes affecting NRIs and NRI Investments in last 8 months. I have selected 15 and have summarized them in the following table for easy understanding. 15 Important Changes affecting NRIs by RBI and Indian Government # Date Topic Detail Effect / Benefit […]