Since the Foreign Account Tax Compliance Act (FATCA) came out in 2010, US Government has already signed Bilateral Agreements with 9 countries until June 2013. The November 8, 2012 Press Release mentioned that the US is engaged with more than 50 countries (including India) to implement FATCA. After analyzing all 9 bilateral agreements entered till […]
India has always been the most rewarding and sought after destination for investments for NRIs due to higher interest rates and growth potential. However, their experience may not be excellent mainly due to theirs or their advisors’ ignorance of rules and regulations specific to NRIs for investments or taxation or both. It is our endeavor […]
The Finance Act, 2013 has provided “Amnesty Scheme for Non Filers and Stop Filers”. Notification No. 10/2013 dated 13th May 2013 brings into action the proposed scheme and notified Service Tax Voluntary Compliance Engagement Rules, 2013. The purpose of this scheme is to encourage voluntary compliance and broaden the tax base. The scheme will be […]
With FCNR rates regulated by RBI and volatile foreign currency market, a lot of banks have introduced and are marketing products for NRIs to generate more return on FCNR deposits. While there are catchy names used for the plans by various banks, like RupeeMax (HDFC Bank), Rupee Advantage Plan (Kotak), FCNB Premium Account (SBI), Smart […]