Finance Budget (No.2) proposed many important changes related to NRI investments and taxation. One of the very important changes that has gone unnoticed by tax experts is that India is preparing to comply with FATCA (Foreign Account Tax Compliance Act ) of USA. While India has not yet signed the US-India […]
In a Historical turn of events, India has reached FATCA agreement in substance with the USA and has consented to be included in the list of jurisdictions that are treated as having a Inter-Governmental Agreement (IGA) under Model-1 with an effective date of April 11, 2014..…THIS IS HUGE….I have been telling […]
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 […]
On June 26, Sebi notified that annual accounts of companies that carry a qualification by their auditors will have to go for a restatement. The notification said all such audit qualifications will have to be mentioned in a form (Form A: ‘Unqualified’ / ‘Matter of Emphasis Report’ or Form B: ‘Qualified’ […]