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| antojames |
 Posted: Wed Nov 17, 2010 12:17 am Post subject: NRI investing in india... |
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I would like to handle this question in two parts. Part one can an NRI invest in India and part two what are the tax implications.
For the first part: In general NRIs are allowed to invest in India. however, if an NRI has become a citizen of the US, he is governed by the SEC (Securities Exchange Commission) regulations which needs to be followed while investing including investing in India.
Investment in India can be done either directly for products like mutual fund or through PIS (portfolio Investment Scheme) through various banks which offer this services. A PIS account is compulssory for investing in the equity markets.
With respect to Part 2, the revenues earned out of the investments in India are liable for tax. However, India has entered in to a DTAA (Double Taxation Avoidance Agreement) with some countries where there are special rates available.
With respect to the tax raid / review etc. if there is a doubt that the source of funds are questionable, then this can happen. In fact, it is the responsibility of the Bank / Broker / Fund House etc. through whom you invest these monies to report to the concerned authorities if they believe that the source of the funds are questionable. Further, suo moto, if there is any reason to doubt the genuineness of the source of funds there can be involvement from IT or other departments to find the same. If the sources of funds are clean, there should not be any concern in this regard. Even if there are any such raids, you will have necessary record of the source of funds.
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| Afina2011 |
| Posted: Tue Sep 20, 2011 8:30 am Post subject: |
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| wjgq |
| Posted: Thu Apr 05, 2012 5:17 pm Post subject: Beats Dr Dre |
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| wjgq |
| Posted: Mon Apr 16, 2012 11:34 pm Post subject: Beats Dr Dre |
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| wjgq |
| Posted: Wed May 02, 2012 9:59 pm Post subject: Beats Dr Dre |
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