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

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Jun 17, 2015
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Understand how RBI uses UCIC to monitor and regulate NRI’s banking accounts

Until recently, NRIs were maintaining multiple bank accounts with multiple residential statuses. They would maintain one account as a non-resident to earn tax free income (NRE account) and another account as a resident to avoid any TDS and related FEMA and Income Tax compliance on local funds. Further, NRIs would also invest in equity and […]

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May 14, 2015
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NRO to NRE transfer Update: 15CB/15CA required for Both “Taxable” and “Non Taxable” Transfers

From June 1, 2015, any person making a payment to a non-resident, including an NRI transferring funds from NRO to NRE account would be required to obtain a certificate from a Chartered Accountant in form 15CB and file form 15CA to the income tax department. On May 14, 2015, the President of India gave […]

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Jan 03, 2015
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Which Act to Use – Income Tax Act (ITA) or Foreign Exchange Management Act (FEMA)?

Foreign Exchange Management Act (FEMA) and the Income Tax Act (ITA) have different definitions, provisions, rules, regulations, procedures and requirements. The definition of Resident or residential status is just one of the many examples. FEMA regulates anything related to foreign exchange; whereas, the ITA regulates anything related to taxation. For any investment related questions by […]

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Aug 08, 2014
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USA-India FATCA Agreement update: Is India Preparing for FATCA compliance? The Budget 2014 proposes so.

Finance Budget (No.2) proposed many important changes related to NRI investments and taxation. One of the very important changes that has gone unnoticed by tax experts is that India is preparing to comply with FATCA (Foreign Account Tax Compliance Act ) of USA. While India has not yet signed the US-India FATCA agreement yet, India […]