NRI Investments, NRI Taxation, TDS, Remittance, Repatriation, NRI Real Estate, RBI, FEMA, Business Set up, WOS

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Jul 19, 2012
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No Additional Interest benefit on NRO, NRE and FCNR deposits (e.g. FD) to NRIs

On July 18, 2012, Reserve Bank of India (RBI) vide notifications RBI/2012-13/136 and 137, DBOD.Dir.BC. 29 and 30/13.03.00/2012-13 withdrew the discretion given to banks to allow the benefit of additional interest rate of one per cent per annum on NRE, NRO and FCNR (B) deposit accounts. Banks in India offer benefit of additional interest of 1% to […]

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Jul 11, 2012
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No Service Tax on NRI Money Transfers from abroad (Inward Remittance) – CBEC

CBEC (Central Board of Excise and Customs) Circular No. 163/14/2012 –ST dated July 10, 2012 clarified that there is no service tax per se on the amount of foreign currency remitted to India from overseas. This is a good news for NRIs as they will not be charged any service tax on money transfer services provided by […]

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Jul 04, 2012
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RBI allows transfer from NRO to NRE account 2: Understand Tax Drag and Why transfer.

I have been receiving lot of inquiries whether to transfer, when to transfer, whether to break NRO FD to transfer funds out of NRO to NRE accounts and many more. My answer has been and is always going to be Break FD and Transfer funds AS SOON AS POSSIBLE provided total cost of premature withdrawal […]

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Jun 28, 2012
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Training seminar on Practical Aspects of Revised Schedule VI

Ministry of Corporate Affairs (MCA) has revised Schedule VI completely after more than 5 decades. The revision was made to align the format with International Financial Reporting Standards. To create awareness about the practical challenges for preparation of financials as per Revised Schedule VI, NJP Advisors Pvt. Ltd. has organized series of Workshop at Ahmedabad […]