Tag: liberalised remittance scheme
India’s richer middle class is living a more dollar-linked life while earning in rupees
From overseas holidays and foreign degrees to AI subscriptions and premium gadgets, India’s growing middle class is increasingly spending on products and services linked to…
As rupee dips, I-T steps up vigil on shady outflows
MUMBAI: Amid the state’s moral suasion to discourage gold purchase and destination wedding, India’s tax authorities are dealing with a slew of shady overseas outflows…
New income-tax act takes effect today
New Delhi: The new Income-tax Act and budgetary provisions, including higher STT on speculative F&O trades, lower TCS on overseas tour packages and liberalised remittance…
RBI initiates talks to ease overseas investment norms
Mumbai: The Reserve Bank of India (RBI) is picking the minds of bankers to smarten the overseas investment (OI) regime. Senior regulatory officials held a…
Asking a friend to book overseas purchases risks FEMA violations
Mumbai: Bidding online for a painting hosted by a London auctioneer. Booking a limited edition watch hosted by a Singapore dealer on a members-only e-com…