Thank you for the Overwhelming Response!!!!!

In less than 7 weeks since we started tracking visitors on our 2 month old blog, without any promotion, our blog has witnessed Over 1,500 reads Visitors from 53 countries Visitors from every part of the world and ALL continents Average daily 30 quality visitors (any visit less than 120 seconds does not count) […]

No Additional Interest benefit on NRO, NRE and FCNR deposits (e.g. FD) to NRIs

On July 18, 2012, Reserve Bank of India (RBI) vide  notifications RBI/2012-13/136 and 137, DBOD.Dir.BC. 29 and 30/13.03.00/2012-13 withdrew the discretion given to banks to allow the benefit of additional interest rate of one per cent per annum on NRE, NRO and FCNR (B) deposit accounts. Banks in India offer benefit of additional […]

No Service Tax on NRI Money Transfers from abroad (Inward Remittance) – CBEC

CBEC (Central Board of Excise and Customs) Circular No. 163/14/2012 –ST dated July 10, 2012 clarified that there is no service tax per se on the amount of foreign currency remitted to India from overseas. This is a good news for NRIs as they will not be charged any service tax  on money […]

RBI allows transfer from NRO to NRE account 2: Understand Tax Drag and Why transfer.

I have been receiving lot of inquiries whether to transfer, when to transfer, whether to break NRO FD to transfer funds out of NRO to NRE accounts and many more. My answer has been and is always going to be Break FD and Transfer funds AS SOON AS POSSIBLE provided total […]

XBRL and MCA Compliance in India

The last date of XBRL filing for Phase – I Companies without additional fees ended on 31st December 2011. More than 85% of the companies covered in Phase –I (more than 23,000 companies) have filed the annual documents in XBRL mode. Majority of the countries in the world have taken concrete […]

Indian Market Scenario 1: Would you Invest in India under these circumstances?

Currently, there are lots of negatives news, events and circumstances related to Indian Market such as  India’s Rating India has lowest Investment grade rating by rating agencies (BBB-). One more downgrade will change its status to non-investment grade i.e. Junk S&P has negative outlook on India i.e. there is higher probability […]