The Reserve Bank of India has allowed investments by NRIs or Persons of Indian Origin in the capital of an entity or a proprietary concern on a non-repatriation basis, subject to certain norms.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answers your questions on NRI investment.
Rise in NRI deposits pushed up India's per capita external debt by 17.55 per cent to Rs 21,493 in one year period ending March 2014, government said in the Rajya Sabha.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
If the view is that rupee will depreciate, hedge your exposure by using forward cover
In 2016, there were 580,000 Indians in the US as resident non-immigrant. Of these, 440,000 were temporary workers, which includes those on H-1B visas and 140,000 were students.
The run in equities, coupled with high interest rates, makes both the debt and stock markets attractive.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
'Barber shops and salons will be allowed to open, but spas will remain closed'
The Supreme Court on Monday sought reply from PricewaterhouseCoopers as to why the non-resident company should not pay advance tax on fee charged by it for providing services in India.
Hopes soar on currency gaining more if Modi becomes the Prime Minister.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
Interest on NRE accounts is tax-free, but the I-T department creates hurdles to tax these accounts.
$5 mn FDI must come in six months: Govt to construction firms.
The new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions.
The Supreme Court will decide whether a non-resident company is liable to pay advance tax on fee charged by it for providing services in India.
India's sovereign debt is much lower than that of other emerging economies like Argentina, Indonesia, Mexico, the Philippines, and South Africa.
Chirag Paswan is young. He is articulate. He has no political baggage. All he needs is the blessing of Chanakya, observes Asmita Bihari.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
The Covid-19 pandemic has forced a whopping 8.7 lakh expatriates from Kerala to return home, most of them from the Gulf, since last May, with a majority of 5.67 lakh citing job loss as the reason for it, according to official data.
The Non-Resident Indians (NRIs) living in the US, UK, Canada and Singapore can now avail the benefit of a lesser tax deduction on their Non-Resident fixed deposit with ICICI Bank, a top bank official said in Mumbai. The NRO FD Plus offers the benefit of concessional rate of tax deducted at source (TDS) under the Double Taxation Avoidance Agreement (DTAA) of India with these countries, ICICI Bank General Manager and Head NRI Services Manish Mishra said.
For Dosanjh to stand by his faith, retain the turban and beard, and yet not trivialise himself in the roles he has essayed, is really his biggest achievement, observes Sandeep Goyal.
According to the Income Tax Act, there are two main benefits available for senior citizens. First, a higher exemption limit of Rs 1,95,000 for someone who has crossed 65 years. Also, there is a higher deduction of Rs 20,000 available for payment of premium for a medical or a health insurance policy.
Decoding four important provisions in the Finance Bill 2018.
Ruling out any provision for a Non-Resident Indian nominee in Indian Parliament, Minister for Overseas Citizens Vayalar Ravi has asked the diaspora to make 'intellectual' contribution to their motherland along with financial investments.
The rising rupee and the cap on interest rates has hit the flow of non-resident Indian (NRI) deposits into the country. Banks such as ICICI Bank and HDFC Bank are promoting the repatriable non-resident ordinary (NRO) rupee deposits in an attempt to attract NRI depositors.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
Non-resident Indians are bringing gold into the country by taking advantage of rules that allow each individual to carry 1 kg of the metal, helping traders cope with restrictions on imports during the peak wedding season.
The bank raised the interest rates on Non Resident External rupee deposits of one year to less than 2 years to 3.08 per cent from 2.49 per cent, two years to less than three years to 3.18 per cent from 2.5 per cent and three to five years to 3.45 per cent from 2.81 per cent. Similar hikes have been made in Foreign Currency Non Resident deposits held in dollars, pound sterling, Euro, Australian dollar, Canadian Dollar and Yen.
FDI of $500 million will come into the country with the Cabinet Committee on Economic Affairs clearing a proposal of the GVK Power and Infrastructure Ltd to issue over 78 lakh shares to NRI shareholders of its sister concern GVK Industries Ltd.
Pratip Chaudhuri said such bonds might expose issuing entities (banks) to class action suits in the US for making an offer to a specific ethnic group in that country.
Setting aside their political differences, the ruling CPI-M-led Left Democratic Front and Opposition Congress headed United Democratic Front, once again came together to launch a joint fight against the Centre on the CAA, which has seen unprecedented protests all over the country.
The swap windows were closed on November 30.
"7.75 per cent savings bonds scheme notified. Would replace 8 per cent scheme. Will be effective from 10th January. This sequenced notifications and gap of a week was necessary to avoid overlap in cheques realisations," Economic Affairs Secretary S C Garg said in a tweet.
A career Citibanker, 'Selva' came into the spotlight as the person who rewired the financial behemoth's Indian retail operations.
ICICI Bank, Union Bank of India, Central Bank of India and Dena Bank have all hiked interest rates on NRE and FCNR fixed deposits from January 1.
Government sources say India could consider raising the policy repo rate if the rupee falls towards 61-62 to the dollar.
