The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
The first tranche of sovereign gold bond for 2022-23 will open for subscription for five days from June 20, the Reserve Bank of India said on Thursday.
If you disagree with the notice, be ready to explain.
Anamika Pareek explains the advantages of investing in tax-saving options like the equity-linked savings schemes.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
Introducing UCC is a challenging task for any government. The complexities are real and difficult to negotiate as it deals with sensitive religious and cultural sentiments. How can it strike an easy balance between individual rights and community interests?, asks Ramesh Menon.
The judgement has dealt with the question whether the share of such children is limited only to the self-acquired property of their parents under Section 16(3) of the Hindu Marriage Act.
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source). While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha on Friday, Finance Minister Nirmala Sitharaman said the Reserve Bank has been asked to look into ways to bring credit card payments on foreign tours under the LRS. "It has been represented that payments for foreign tours through a credit card are not being captured under the Liberalised Remittance Scheme (LRS) and such payments escape tax collection at source (TCS)," she said.
Pasta procured in Italy cooked up with lightly braised vegetables that can be mimicked in India.
The recommendation, if implemented, is likely to face opposition from the government's key support base among Hindu traders and businesspersons.
rediffGURUS Hardik Parikh, Tejas Chokshi, Mihir Tanna and Sanjeev Govila answer your tax related queries.
If an assessee misses the December 31 deadline, s/he can file a belated tax return by paying a late filing fee. 'This must be done within three months from the original filing date.'
Neeyat is not only sluggish, it also creates zero interest in the characters. It could, perhaps, be watched on OTT, where it is inevitably headed, feels Deepa Gahlot.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Delhi Capitals are at the bottom of the 10-team league with 2 points from 6 matches SunRisers Hyderabad are 9th with 4 points from 6 matches.
Markets regulator Sebi on Thursday came out with detailed modalities for implementation of the accredited investors framework, a move expected to open up a new channel of raising funds from sophisticated investors. The regulator has issued guidelines on eligibility criteria for accredited investors (AIs), procedure as well as validation for accreditation, procedure to avail benefits linked to accreditation and flexibility to investors to withdraw "consent", according to a circular. Sebi had earlier this month introduced the concept of "accredited investors" in the Indian securities market.
Now that the two teams have reached the semi-final stage, albeit by taking contrasting routes, an India-Pakistan title clash is being anticipated.
Salaried persons whose liability is fully deducted as tax deducted at source by their employer need not worry about advance tax payments, unless they have other sources of taxable income.
The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday. "Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant change has been made to the ITR Forms in comparison to the last year's ITR Forms. "Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made," the Central Board of Direct Taxes (CBDT) said in a statement. The Income Tax returns (ITR) forms ask taxpayers if they are opting for a new tax regime.
Portugal's Bruno Fernandes has long played second fiddle to team mate Cristiano Ronaldo but on Monday he stepped out of the superstar's shadow by scoring two goals to steer his team past Uruguay and into the World Cup Round of 16.
Strikes from Freiburg's Ritsu Doan and VfL Bochum's Takuma Asano, who struck from fellow Bundesliga player Ko Itakura's deep free kick, gave the Asians their first ever win over Germany.
Women leaders, succession planners and lawyers say doors in family businesses are opening but a stronger push is needed.
The Union finance ministry on Thursday issued a clarification on the changes in FEMA rules which brings overseas international credit card spending under the RBI's liberalised remittance scheme (LRS). Here's how it affects you.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Several changes were made to the new income-tax regime in Budget 2023. The old income-tax regime was not tinkered with and is still available.
Finance Minister Nirmala Sitharaman in her fifth Union Budget made five major announcements for the income tax assesse. She announced no changes in the old tax regime and confined her relief measures to the new tax regime. There have been no changes under the old tax regime.
Relaxing its earlier directions, Sebi on Monday removed the securities market ban imposed on eight entities with respect to alleged insider trading activities in the shares of Poonawalla Fincorp Ltd, which was earlier known as Magma Fincorp. Passing a 62-page confirmatory order, the regulator said the eight entities are now barred from buying, selling or dealing in securities of PFL till further orders. The interim order, passed in September 2021, stand modified to the extent of allowing credit and debit of securities in the accounts of above entities except the securities of PFL, according to the regulator.
Manchester United crushed Newcastle United's hopes of a claiming a first domestic trophy for nearly 70 years with a clinical 2-0 victory in the League Cup final at Wembley on Sunday.
The Central Board of Direct Taxes (CBDT) has issued detailed guidelines on facilitating tax deducted at source (TDS) on virtual digital assets (VDA) or crypto assets, under which date of transfer and mode of payment will have to be specified. From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the income tax (I-T) Act. The department has explained different scenarios through six questions to remove difficulties.
Lewandowski huffed and puffed, but he cut a lonely and frustrated figure
AC Milan entered the Champions League quarterfinals for the first time in eleven years, with a draw in the round of 16 second leg against Tottenham Hotspurs.
The teams finished level at 3-3 on aggregate in the tie but the Lisbon club advanced to the quarter-finals after Adan kept out Martinelli's weak effort.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
The Supreme Court (SC) recently declared that a Hindu father or the manager of a Hindu Undivided Family (HUF) has the power to make a gift of ancestral property for a 'pious purpose', but such an alienation can't be permitted 'out of love and affection'. A petitioner had filed a suit against his father and another person called KC Laxmana for partition and separate possession of his one-third share in the property, and for a declaration that the gift or settlement deed executed by his father in favour of the second defendant, KC Laxmana, be declared null and void. Bharat Chugh, former judge and advocate, says, "The plaintiff argued that the property belonged to the joint family (of which Laxmana was not a part), and transfer of property without his consent was not valid." The SC ruled that gifting out of natural love and affection cannot be interpreted as 'pious purpose'.
The Indian men's team, led by Srikanth, had beaten powerhouse and 14-time champions Indonesia in the final to win the country's maiden Thomas Cup title on Sunday.
Most taxpayers will benefit from being in the old tax regime, assuming they optimise their salary for tax benefits and claim the deductions available to them.
Kingsley Coman came back to haunt Paris St Germain again as he earned Bayern Munich a 1-0 win in their Champions League last-16 first leg in Paris on Tuesday.
The government will issue Sovereign Gold Bonds (SGBs) in six tranches beginning April 20, the Reserve Bank of India said on Monday. The bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram and the tenure of the SGB will be eight years with exit option after fifth year to be exercised on the interest payment dates.
The issue price for Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from November 29, has been fixed at Rs 4,791 per gram of gold, the Reserve Bank of India said on Friday. The Sovereign Gold Bond Scheme 2021-22 - Series VIII will be open for subscription from November 29 - December 03, 2021. "The nominal value of the bond...works out to Rs 4,791 per gram of gold," the RBI said.
