The FinTech Hub
Source: Live Mint When an NRI becomes a resident, can the foreign currency non-resident account FD be freely repatriated without coming under the ambit of the liberalised remittance scheme (LRS)? – Name withheld on request. When an NRI becomes a resident under FEMA, the FCNR (B) deposit held in India would be recharacterized as a…
Source: Live Mint I want to send money to my son in the US under the Liberalised Remittance Scheme (LRS). I understand that tax collected at source (TCS) has to be paid on each transaction. How can I reclaim this amount? —Name withheld on request It is assumed that you qualify as a resident in…
Source: Live Mint Starting 15 October, salaried individuals can adjust such TCS payments against the tax deducted at source (TDS) on their salaries. Previously, they could only claim a refund of the TCS when filing their tax returns. This affected salaried individuals in particular as professionals could always factor in the TCS while computing advance…
Source: Live Mint Here’s everything you need to know about it. Investments LRS allows Indians to invest in listed foreign securities – both equity and debt. You can invest in mutual funds, exchange traded funds (ETFs), venture funds, and real estate (with some caveats). You can also invest in listed debt securities such as bonds,…
Source: Business Standard 2 min read Last Updated : Oct 08 2024 | 5:31 PM IST People make foreign remittances for various purposes, such as paying the education fees of children studying abroad or purchasing assets overseas. The process involves following a set of procedures to ensure compliance with Income Tax regulations. …
/cdn.vox-cdn.com/uploads/chorus_asset/file/25682810/air3s_dji.jpg?w=400&resize=400,250&ssl=1 "DJI escapes US drone ban — but may get banned automatically unless Trump steps in")