Taxation on Capital Gains in India (Fy 31.03.2022/Ay 2022-23) S. N. Under the head Section 54 Section 54B Section 54D Section 54EC Section 54F Section 54G Section 54GA 1 Nature of Assesse Individual / HUF ‘only’ Individual / HUF ‘only’ ‘All’ assesses All’ assesses Individual / HUF ‘only’ ‘All’ assesses ‘All’ assesses 2 Nature of […]
(For the year ending on March 31, 2022 – Ay 2022-23) 1. TDS on the Making Payments to a ‘Non’ Resident of India (i) Responsibility of TDS under the section 195(1) TDS is to be deducted by a person as ‘responsible’ to pay any interest or ‘any other sum’ to a non-resident of India. (ii) […]
Establishment of Branch office (BO), Liaison office (LO) or Project office (PO) in India 1. Introduction on the Establishment of BO/LO/PO in India (i) Eligible Foreign entities are permitted to establish BO, LO (Commonly known as Representative office) and PO in India under general or specific ‘approval’ route (ii) Eligible Foreign Entities Includes 5 followings […]
1. Introduction on the ECBs (i) ECBs are permitted as ‘commercial’ loans for ‘commercial’ purposes as to be received by the eligible Indian borrowers from the recognized non-resident lenders in accordance to updated guidelines as issued by the RBI from time-to-time. (ii) ECBs are permitted in ‘any’ convertible foreign currency and also in Indian Rupee […]
1. Introduction on LRS under the ‘Automatic’ Route (i) History of the LRS The LRS was announced by the RBI vide circular No. 64, dated February 04, 2004 as simplified and liberalized foreign exchange facility to be available for the resident ‘individuals’ (RIs) ‘not’ for HUF, partnership firm and Trusts etc. (ii) Monetary limit for […]
1. ‘Advantages’ of the ODIs (i) Increases in the exports of plant, machinery, goods and Services from India (ii) Increases in foreign exchange earnings through receipt of dividend, royalty and technical Known how fee 2. ‘Guidelines’ for the ODIs Guidelines’ for the ODIs are available through followings Regulations, notifications etc. (i) Foreign Exchange Management (Transfer […]
Prevention of Money Laundering Act (PMLA), 2002 and The Benami Transactions (Prohibition) Amendment Act, 2016 in India A. Prevention of Money Laundering Act (PMLA), 2002 1. Introduction on the PMLA (i) Definition of PMLA is given under section 3 of the PMLA, 2002 where any activity of Money Laundering is involved for the purpose of […]
(i) (a) Non Residents are permitted for acquisition through purchase, gift or inheritance of the immovable properties in India under FEMA, 1999. (b) And also Non Residents are permitted for transfer through sale, gift (only to resident of India) or inheritance of the immovable properties under FEMA (Acquisition and Transfer of Immovable property in India) Regulations, 2000 as amended from time to time through Notifications and Circulars of the RBI.
