The threshold for identification of BOs of FPIs on controlling ownership interest is 25 per cent in case of companies and 15 per cent in case of partnership firms
'We have 10 million votes, 15,000 votes per MP constituency. There are certain constituencies who will win by about 5,000 or 6,000 votes. So if we win this case, these 15,000 votes will play crucial roles in at least 50 Lok Sabha constituencies, which can change the dynamics of the entire political system,' Nagender Chindam tells Patrick Ward in an interview.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a sharp surge in holdings via securities and similar instruments while customer deposits rose as well, annual data from Switzerland's central bank showed on Thursday.
Should we not stop uncritically celebrating NRIs' elevation without regard to what kind of companies they are getting to run, and the nature of their products or business practices, asks T N Ninan.
'NRI interest has gone up in the past three-four years.'
Today, NRIs are eager to reconnect with India because India is a growth story and it makes good business sense.
At present, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, covers only resident Indians. The Finance Bill has expanded the definition of assessees to include NRIs.
Resident individuals can acquire and hold immovable property or shares or any other asset outside India without prior approval of the RBI.
Both NRIs and those who make payouts on sale of property need to understand the TDS provisions that are applicable or risk punishment, warns Sanjay Kumar Singh.
The flow of deposits from non-resident Indians (NRIs) hit a four-year low in the financial year 2020-21 mainly due to contraction in foreign currency deposits, latest data released by the Reserve Bank of India (RBI) shows. Total NRI deposits during FY21 were $7.3 billion as compared to $8.6 billion in FY20 - the lowest since 2016-17, when such deposits had contracted by $12.3 billion. Indian banks have three kinds of deposit accounts where NRIs or PIOs (persons of Indian origin) can park their funds: non-resident external-rupee account (NRE); non-resident ordinary rupee account (NRO); and foreign currency non-resident bank account (FCNR [B]).
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Three non resident Indians were awarded gold medals for their outstanding contribution to the community.
Bank of Baroda (BoB) has revised the interest rates on FCNR(B) and NRE term deposits with effect from December 3, 2004.
India made short work of West Indies by 59 runs to take an unassailable 3-1 lead in the five-match series in Lauderhill, Florida on Saturday.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answers your questions on NRI investment.
In his first address to NRIs outside India after taking over as Congress president, Rahul Gandhi accused the government of dividing people on the basis of caste and religion, alleging it was converting the anger of jobless youth into hatred among communities.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
Ram Buxani said increase in the customs duty on gold will help Dubai's business.
Don't marry Indians in America, including Canada,' Vayalar Ravi, India's minister for Overseas Indian Affairs often tells people back home.
'I know of at least one techie who quit his job to join the AAP in Delhi. Many others traveled to India to volunteer during the election. If you ask these volunteers why they were doing it when they can't even vote in India, they say, "We want a corruption-free India".' Ritu Jha looks back on the year that was; it was party time, she says, for news junkies like her.
Indian expatriates in the United Arab Emirates have demanded a compensation package from the Indian government as the appreciation of the Indian rupee had impacted their remittances back home. The demand follows a study conducted recently by the Centre for Socio-economic and Environmental Studies, Kochi, which had focused on the impact of rupee appreciation on the economy of Kerala.
The bank is offering a preferential rate on foreign currency conversion, giving special offers on housing loans and providing assistance for searching properties.
Montek Singh Ahluwalia appealed to the Indian Diaspora at the PBD gathering to support health care ventures of the Indian government, for people below the poverty line.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Indian property market has been increasing at between 30-35 per cent per annum, and will continue to see huge demand in the coming years.
In a bid to promote two-way engagement and build better understanding with the Overseas Indian community, a unique institution - 'Pravasi Bhartiya Kendra' - will come up in New Delhi by next year.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment
The Non-Residential Indian community in London felicitated Khalid Hameed, former High Sheriff of Greater London and erstwhile Chief Executive of Cromwell Hospital, on his elevation to the peerage.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
A start-up by three friends with Angel investment of Rs 1.5 crore, NautankiTV has close to 40 per cent of its users from the US and UK.
But the question the Indian taxpayer is now asking is, who should pay for all this? The Indian government, using the taxpayers' money? The Indians who went there to make money, and have surely made enough of it to spend on securing their future? Or even the companies that sent Indians there to work on projects?
Three Indian Americans have been awarded by the Indo-American Chamber of Commerce for their outstanding and tireless work as entrepreneurs.
BJP leader Poonam Mahajan explains why she believes that NRIs joining Parliament will strengthen democracy.
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