The FinTech Hub
Source: Live Mint An NRI (Non-Resident Indian) who earns income both abroad and in India often encounters difficulties in managing finances. They also face challenges in keeping track of bank accounts in a foreign country, and sending money to their home account can be tricky. NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts are the…
Source: Live Mint I have been working in the US for the last three years. I had a regular demat account and had shares listed in India when I was in India. I do still hold an Indian passport but have become a non-resident and thus have been filing my ITR(Income Tax Return) as a…
Source: Live Mint The Indian market offers diverse avenues for portfolio diversification, including alternative investments such as portfolio management services (PMS) and alternate investment funds (AIFs). Equity investments, for instance, have delivered an impressive average annual return of 15% over the past five years, outperforming most major economies. Mutual funds also remain a popular choice,…
Source: Live Mint I will be moving back to India in FY25. Do I need to bring the money I earned abroad with me? If yes, will it be taxed? If no, what are the tax implications in India in the future? -Name withheld on request There is no obligation to do so. Under India’s…
Source: Live Mint In 2022, the Indian government introduced a flat 30% income tax on gains from cryptocurrencies and Non-Fungible Tokens (NFTs). Investors riding the current rally should be aware of their advance tax and reporting obligations to avoid penalties under the Income Tax (IT) Act. With a 1% TDS deducted on sales of these…
Source: Live Mint My wife and I are both NRIs. She owns a residential property in India which she has rented out. She requested the tenant to credit one month’s rent into my NRO account instead of hers since I’m due to visit India shortly and can use those funds for local expenses. The resident…
Source: Business Standard 3 min read Last Updated : Oct 08 2024 | 7:00 PM IST The Securities and Exchange Board of India (Sebi) on Tuesday issued fresh guidelines on due diligence for investors in alternative investment funds (AIFs) to prevent circumvention of norms and ever-greening of loans. The due diligence specifically applies…
Source: Live Mint Speaking at an event organised in collaboration with the Financial Planning Standards Board (FPSB) India on the World Financial Planning Day on 4 October, Dipesh Shah and Pradeep Ramakrishnan, executive directors at International Financial Services Centres Authority (IFSCA), talked about how GIFT City, primarily perceived as an investment destination, has much more…
Source: Live Mint I opened a savings bank account for my son when he was a minor. When he became an adult, the account was converted to a joint account with me as a second joint holder. This account is still in operation and has a balance of less than ten thousand rupees at any…
Source: Live Mint Without a valid Power of Attorney (PoA), parents risk severe financial penalties and legal trouble. A PoA can help them manage their child’s finances legally, offering protection and peace of mind while ensuring compliance with FEMA regulations. Avoid shortcuts, secure a PoA, and keep your family’s finances safe. Avoidable mistakes: Legal risks…
