Co-investment under the portfolio management services (PMS) route accounted for less than 50 crore in assets and involved fewer than a dozen clients for much of 2022. Since then, assets under management have risen to 3,812 crore across 535 clients as of April 2025, according to the latest regulatory data. The recent changes may open the door to greater investment from sovereign wealth and pension funds, experts say.
The proposal to levy a minimum tax based on assets undoes most of the good that the code seeks to do and will discourage capital-intensive industries.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
The Securities and Exchange Board of India (Sebi) has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country's international financial services centre (IFSC). However, the Indian diaspora is yet to fully embrace this new route. The regulator allowed this route to enhance the fund ecosystem at GIFT City and attract genuine investments from overseas Indians.
Alternative investment funds (AIFs) have not seen any significant redemptions from financial institutions even though the 30-day timeline provided by the Reserve Bank of India (RBI) to liquidate their holdings or make full provisions ends recently. Sources said the industry is awaiting certain relaxations or extensions based on the recommendations submitted to the banking regulator. On December 19, the RBI restricted financial institutions and banks from investing in AIFs where there is any downstream link or exposure to a debtor firm.
Foreign portfolio investors (FPIs) from Mauritius may face higher scrutiny after the amendment in the India-Mauritius tax treaty introduced a principle purpose test (PPT) to prevent treaty abuse by taxpayers. The Mauritius government had in February decided to amend the double taxation avoidance agreement (DTAA) with India to align with the Organisation for Economic Co-operation and Development's proposal on base erosion and profit shifting. Although the agreement between India and Mauritius was signed on March 7, the protocol of the amendment was made public for the first time on Wednesday, said legal experts.
The cryptocurrency will fall in the RBI's domain.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
Since January 2011, a third of firms making such offers failed to meet new floor; current penalties would have been hefty.
If the account in a foreign bank has income undisclosed to income tax authorities, or has funds from illegal sources, the account can be declared illegal, under the Fema.
'The introduction of a tax on LTCG will be a deterrent for foreign investors and could potentially result in a movement of trading activity away from India to other offshore jurisdictions such as Singapore, which offer better tax rates and sophisticated financial products.'
The finance ministry is seeking to speed up deals with outside investors.
As Google evaluates its response to two recent penalties slapped by the Competition Commission of India (CCI), here is a look at the app economy. Apps are bread and butter for mobile operating systems. India ranks second in the number of mobile downloads, with nearly 27 billion downloads in 2021, according to Deloitte. Accounting for 11.6 per cent of global app downloads, the Indian smartphone user spends over 4 hours a day on apps.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
Retrospective claims may not stand the test in international courts.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
As Prime Minister Narendra Modi visits US, fund managers from India and abroad expect improving sentiments and impressive returns from Indian markets to help attract billions of dollars flowing into the country's asset management industry.
Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2 billion international tribunal award in the retrospective taxation case by seizing India's overseas assets.
Choice of jurisdiction is important as that decides which country's law would apply in settlement of the dispute, says Sudipto Dey.
Total number of tax disputes in SC cross 10,000
India doesn't have a data protection law or a dedicated law on cybersecurity. Also, there is no specialised law on privacy. Experts say this complicates the scenario for businesses as they continue to be liable for breach in client data even when employees work out of the home.
With the demand for lower costs in process driven activities and a move away from the high rate, billable hours of legal services, AI platforms are being used internationally in many legal tasks.
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
Signing of the pact will hopefully end stock market uncertainty that came with the mention of the M-name
Multi-Commodity Exchange of India is the only listed bourse in the country
Former finance head Bansal, who left Infosys in 2015, has gone for arbitration over severance pay
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For India to invoke "sovereign" or "state" immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state's sovereign functions.
The Reserve Bank of India (RBI) allowing the use of put options in investment agreements has brought needed clarity but it has come with strict restrictions. These could impact investors looking for a minimum rate of return, experts say.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
The constitution amendment Bill on a national GST is likely to be tabled in the current session of Parliament. However, the government is not confident of passing the Bill this session.
Only 36 per cent in Japan and 44 per cent in Germany were willing to use such vehicles.
The finance ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of bank loans), LIC Act, PFRDA Act, RBI Act, NHB Act, Banking Regulation Act and Chit Funds Act.
India is set to sign an agreement with the US to resolve transfer pricing disputes, which will then serve as a template for settling such rows with multinational companies based in the UK, France and other European countries.
Of the 700-odd Indians having foreign bank accounts, not all can be deemed to be operating these illegally.
Trial by the media can be avoided if the industry itself devises effective mechanisms to bring this to an end
The interim report highlights key competition issues in the e-commerce space like deep discounting, the imposition of unfair terms and conditions, the growing dependence of brick and mortar establishments on online platforms, and opaqueness in search rankings.
New regime places more limits on unregulated foreign entities
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
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