indian rupees

As the fall of Rupee against the dollar continues, the experts say more investment opportunities in India are opening up for the Gulf based non-resident Indians (NRIs). Real estate, capital markets and deposits are among the new instruments in which the expatriate Indian community can invest. The State Bank of India CEO , Debajyoti Ray Chaudhuri said in Dubai, the NRIs in United Arab Emirates, UAE are getting more rupees in exchange for Dirhams and they should make the m.. Full Article

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in suppression of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 186/2009-Customs (N. T.), dated the 29th December, 2009 vide number S. O. 3305 (E), dated the 29th December, 2009, except as respects things done or omitted to be done before such suppression, Full Article

These individuals, according to the RBI, may open, hold and maintain a foreign currency account with a bank outside India and receive the whole salary payable to him for the services rendered to the office/branch/subsidiary/joint venture in India of such foreign company, by credit to such account, provided that income-tax chargeable under the Income-tax Act, 1961, is paid on the entire salary as accrued in India. Full Article

NOTIFICATION NO. 186/2009-CUSTOMS (N.T.) - the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1st January, 2010 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and exp.. Full Article

Payment of salary outside India to employees of a foreign company who are on secondment to an office, branch, subsidiary or joint venture in India (Indian entity) of the foreign company. The remittance of salary received by foreign nationals whilst resident in India who are employees of Indian companies. Full Article

Notification No. 174/2009 - Customs (N. T.) DATED THE 26th November, 2009- Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1st December, 2009 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section,.. Full Article

National Advisory Committee on Accounting Standards (NACAS) may have favoured suspension of mark-to-market accounting norms on foreign exchange transactions for corporate sector for two years, but Institute of Chartered Accountants of India (ICAI) is in no mood to suspend the accounting standards (AS) 11 provision. ICAI president Uttam Prakash said here that he was not [...] Full Article