'The situation is so bad that they are now sleeping on bridges or footpaths.' 'Therefore, they want to go and die before their parents or wife in case they get infected with COVID-19.' 'Workers don't want to die a dog's death in cities.'
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The minister, who is in New York to attend high-level meetings of the UNGA, assured INOC that while he was aware of some of the concerns of the non-resident Indians, he did not know the extent of the problems and that the government will address the issues as soon as possible.
If the view is that rupee will depreciate, hedge your exposure by using forward cover
More than 11 million Non-Residential Indians and 20 lakh defence and paramilitary personnel will soon be enrolled in electoral rolls with the government on Wednesday setting the ball rolling for exploring ways for facilitating electronic voting for them.
Non-Resident Indians and Indian nationals abroad can deposit up to Rs 25,000 of the demonetised currency during the 3-6 month grace period, but only if they show the junked notes to Customs officials at the airport and get a declaration form stamped.
A bill to amend the Citizenship Act, one of the six items on which government had issued ordinances, was on Monday passed by the Lok Sabha.
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Money exchangers and bankers in Muscat said that non-resident Indians have started resorting to personal loans as rupee touched an all-time low of 62.03 against the US dollar on Friday, Times of Oman reported.
Continuing his attack on the Congress, he said efforts to stop the 'leakage' could have been made earlier as well but there was no intention and will power.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The court stated that creating an absolute bar on the disclosure of information to non-citizens would be contrary to the purpose and object of the RTI Act itself, and the same cannot be read into the legislation.
'It's amazing how many different kinds of patriotic songs we have in our country.'
September 15 is the deadline for paying the second instalment of advance tax. This is income-tax (I-T) taxpayers need to pay every quarter, instead of a lump sum at the end of the year. Ashutosh K Srivastava, senior associate, SKV Law Offices, says, "The tax has to be usually paid when income is earned. "Nonetheless, according to the I-T Act, the taxpayer has to estimate his income for the entire financial year. Based on that, he/she pays tax at specific intervals."
The highlights of the RBI's fourth monetary policy review of fiscal year 2022-23 announced by Governor Shaktikanta Das.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
The Central Board of Direct Taxes (CBDT) has proposed a new common income-tax return (ITR), with greater focus on disclosing income from virtual digital assets or crypto assets and foreign equity and debt instruments held by resident Indians. For non-resident Indians, the draft ITR seeks exhaustive details ranging from nature of business, permanent establishment (PE), business connection, whether the entity has significant economic presence (SEP) in India, along with the number of users in India. The ITR protocol for NRIs could widen the scope of the SEP principle that was introduced in the Finance Bill 2018-19, and the explicitly defined 'business connection' to include provision of download of data or software, if aggregate payments from such transactions exceed a prescribed amount, or if a multinational's interaction is with a prescribed number of users.
'I get panic calls from Manila, Singapore, the US, Canada...'
The surprise victory of the Aam Aadmi Party in the recent Delhi assembly elections has brought to the fore the crucial role played by the party's Non Resident Indian supporters across the globe.
As their latest star-studded collaboration Pathaan starring Shah Rukh Khan, John Abraham and Deepika Padukone readies for release this Wednesday, Sukanya Verma offers a lowdown on everything Siddharth has directed so far.
In his address at the event organised in London by the Institute of Directors India, he emphasised that for too long India has been burdened with an old, cosy, family-and- favourites, under-the-table style of doing and managing business.
Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
Despite their opposition based on ideology, both the political Right and the political Left possess similar behaviour, observes Shyam G Menon.
Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without the mandatory 180 days' waiting period.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
While Governor Ravi's speeches have put the local BJP supporters on the defensive in matters of religion and social justice, his add-on 'attack on the constitutional scheme' in the 'Senthil Balaji case', has been condemned squarely by many legal experts and editorial writers across the country, thus adding weight to CM Stalin's position -- at least until the courts come up with their binding views, observes N Sathiya Moorthy.
Postal ballot facility for eligible overseas Indian electors cannot be extended for the upcoming assembly polls as the matter is still under discussion with the Ministry of External Affairs to iron out logistical challenges in implementing the proposal, Lok Sabha was informed.
Christmas is a perfect time for most NRIs to travel back to India and include property buying in their schedule. Ahmedabad, Kochi, Ludhiana and Chandigarh are some cities that witness generous investments from NRI investors.
Shares of Yes Bank may face selling pressure as the Reserve Bank-mandated three-year lock-in period for individual investors and exchange-traded funds is ending on Monday, according to analysts. The analysts expect distress on the bank counter on Monday as they expect investors, primarily the nine banks led by State Bank, which picked up almost 49 per cent of its stocks in March 2020 for Rs 10 per share -- at a premium of Rs 8 on the face value as part of the RBI bailout, making an exit. Exchange-traded funds are also likely to press the exit button.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
"For my government, engagement with the India community abroad has been a key priority," he said.
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.
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
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.
'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
'NRI interest has gone up in the past three-four years.'
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
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.
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]).
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