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The lending and borrowing facilities are given to non resident Indians by the Reserve Bank of India. However, the lending and borrowing by an NRI is limited to “close relatives” of the NRI. The meaning of close relative is also explained to have same meaning as given for Relative in section 6 of the Companies Act. As per this, the Meaning of “relative”...
The RBI has under Liberalized Remittance Scheme allowed all resident Indians to invest abroad in all kinds of investment except prohibited items . The limit of remittance abroad without approval of RBI is upto US Dollar 2,00,000 in one financial year. So now an Indian resident can approach its bank for remitting US Dollar 2,00,000 for following types...
RBI has issued Circulars A.P. (DIR SERIES 2011-12) CIRCULAR NO. 79, DATED 15-2-2012 by which the Form API which is declaration of immovable property acquired in India by a person resident outside India who has established in India a branch, office or other place of business, excluding a liaison office. It has been clarified that...
The Reserve Bank of India , has allowed , now ,resident individuals permission to repay loans availed of from banks in Rupees in India by their NRI close relatives as defined under section 6 of the Companies Act.Read this for knowing meaning of close relative of the resident individual as defined in Section 6 of...
Apart from the gift in form of securities by a Resident Indian to his/her NRI who is relative , now Reserve Bank of India has allowed Indians to gift money upto US Dollar 2,00,000 to any NRI close relative. The salient feature of the RBI Circular on Gift by Resident to NRI is as under...
A video reports on tax planning by US based corporate to shift their office elsewhere in other … [Read More...]
The tax deduction u/s 80DDB of the Income Tax Act provides relief to tax payers who are individual … [Read More...]
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