Foreign Holdings

ITR deadline in Dec: Report foreign income, assets or you may face penalty of Rs 10 lakh; check details

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ITR deadline in Dec: Report foreign income, assets or you may face penalty of Rs 10 lakh; check details

ITR filing: Taxpayers with foreign income or assets must disclose them by December 31, 2024, to avoid penalties under the Income Tax and Black Money Acts. The Income Tax Department has outlined the necessary steps for taxpayers to meet this obligation. Previously, the Income Tax Department underscored the significance of reporting assets held overseas or income … Read more

FPI buying of debt via voluntary retention route gathers pace

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FPI buying of debt via voluntary retention route gathers pace

Mumbai: Overseas debt purchases via the voluntary long-term investment route have accelerated sharply, with foreign holdings so far in May marking their highest monthly level in two years and this year’s commitments crossing the billion-dollar threshold in the latest demonstration of India‘s emergence as a global debt investment option. FPI investment in the debt-voluntary retention … Read more