Things US-based NRI should know while investing in India
"Several Indian fund houses have stopped accepting applications from NRIs based out of the US and Canada, owing to onerous provisions of the Fatca."
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How can a US-based NRI invest in mutual funds in India?
Several Indian fund houses have stopped accepting applications from NRIs based out of...
Income tax department tapping data for black-money
In addition, tax officers are looking to mine data available with the Reserve Bank of India, which allows Indians to send $250,000 overseas annually under the Liberalised Remittance Scheme, without any questions asked.
Your NPS account may get blocked unless it is FATCA compliant
On accounts opened between 1st July 2014 to 31st August 2015 self-certification of FATCA is required by April 30, 2017.
Your NPS account won't get blocked due to FATCA, clarifies PFRDA
The clarification, sent to the registered email addresses of NPS investors on Thursday, comes as a relief to some 40 lakh NPS investors.
Income tax department to target senior executives who have US bank accounts
The queries mostly relate to dividends, interest income and deposits in bank accounts of individuals who spent some time in the US, according to officials.
FATCA deadline extension cheers Mutual Fund investors
The government has asked financial institutions to not close accounts which are not FATCA compliant for now.
Rs 1 lakh crore of Mutual Fund investments may be frozen
The Association of Mutual Funds in India is working on a common procedure involving leading MF transfer agents such as CAMS to make compliance easier for investors.
FATCA: Indo-US pact to combat black money to get operational tomorrow
An official agreement in this regard was signed by the then Revenue Secretary Shaktikanta Das and US Ambassador to India Richard Verma in July here.
FATCA fact: Under new US tax law, Indian Trusts will now have to disclose details to Internal Revenue Service
There are fears that US tax department could interpret the matter differently and consider notional income to tax the beneficiary.
Foreign Account Tax Compliance Act will result in heightened tax scrutiny of NRIs
FATCA requires all foreign financial institutions to enter into an agreement with the US government & disclose foreign account information of US accountholders.
Foreign Account Tax Compliance Act leads Mutual Funds to avoid fresh investments from US investors
Moreover, some MFs may even stop taking investments from NRIs till a clarity emerges over FATCA agreement between India and the US.
Black money: Failure to sign Foreign Account Tax Compliance Act with US may hurt India
India cannot sign FATCA before Dec 3, when SC will hear the case next. This has raised the prospect that India could miss the December 31 deadline.
Mutual Funds industry gears up to comply with FATCA
Indians residing in the US may find it difficult to invest in products offered by the $9-trillion Indian mutual fund industry from July 1.
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