The FinTech Hub
Source: Live Mint I have gifted some money to my daughter when she turned 16. We both are residents. I have set up her custodial account in US for investment in Nasdaq-listed stocks from this gifted money. I would like to understand the potential tax implications in India on this. -Name withheld on request As…
Source: Live Mint Investing in US stocks allows Indian investors to own a slice of the world’s most influential companies, while global exchange-traded funds (ETFs) provide an avenue to diversify portfolios beyond domestic markets. While India’s mutual fund (MF) industry has hit the Reserve Bank of India’s $7 billion cap for overseas investments, platforms such…
Source: Live Mint Deepak Shenoy, Founder and Chief Executive Officer (CEO) of Capitalmind, a financial advisory firm, wants the Reserve Bank of India (RBI) to increase the limit for mutual funds investing in foreign stocks by over 10 times to $50 billion. The RBI has set a limit of $8 billion which Shenoy argued has…
Source: Live Mint The number of Indians investing in overseas markets has shot up over the past few years. However, many popular international funds are now closed for fresh investments as they have hit regulatory limits and fund-specific caps, leaving investors with few options. In January 2022, the mutual fund industry hit Sebi’s $7 billion…
Source: Live Mint Indians invest in international mutual funds seeking exposure to leading global companies for many reasons – to diversify their portfolio, serve as a hedge against rupee depreciation, or as a strategic addition to their long-term financial planning. However, many popular international funds are closed for fresh inflows due to regulatory limits and…
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 Assume Mr A is an NRI based in the US and his father wants to send him ₹10 lakh from India. A resident Indian can only send money to an NRI’s NRO account. It cannot go in the NRE account because even though NRE is a rupee-denominated account, funds deposited in it…
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 : Sep 20 2024 | 9:49 PM IST Outward remittances under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS) increased by 16.7 per cent year-on-year (Y-o-Y) to $2.75 billion in July 2024 compared to $2.36 billion last year, driven by international travel. The LRS…
