Prajna Capital - An Investment Guide

Some conditions that make it possible for NRIs to buy shares of companies here, and some procedures involved A non-resident Indian ( NRI ) is a citizen or person of Indian origin ( PIO ) who resides outside India. Under the Foreign Exchange Management Act 1999 ( FEMA ), a person who is not a 'person resident in India', as defined under Section 2(V) of the Act is considered as a 'person resident outside India'. A PIO could be a citizen of any country but should have held an Indian passport, his parents or grandparents should have been citizens of India by virtue of the Constitution of India or the Citizenship Act 1955, he should be the spouse of an Indian citizen, or should be a person referred to in sub clause (a) or (b). Investments by PIO in domestic securities are treated in the same as investments by NRIs and require the same approvals, while being eligible for the same exemptions. A NRI or PIO can open a demat account with any depository participant ( D...

Wish to cut down on wedding costs? Don’t have a clue from where to start. Here are ways to rationalise the huge expenditure for making the event not only a memorable one but also affordable Marriages may be made in heaven but if only they could be solemnised there too. Every bride and groom could fulfil their vision of a perfect wedding, in an idyllic setting with as many guests and fanciful embellishments as they desired, without spending a penny on it. However, it only gets this good in dreams. In real life, a wedding means weeks of nervous anxiety for all concerned, starting from the day the dates are decided to the moment when the final reception is over. Compounding this anxiety is the dip that you can see in your bank balance, every time a ceremony takes place. CREATE A BUDGET Most financial planners agree that as parents, the first step you should take is to chalk out what you can afford to spend on the wedding. Be realistic and do not allow yourself to be guided by emotions ...

Here are outlines of rules governing NRI investments in India Non-resident Indian ( NRI ) means a 'person resident outside India' who is a citizen of India or is a 'person of Indian origin' . Under the Foreign Exchange Management Act, 1999 ( FEMA ), a person who is not a 'person resident in India' , as defined under Section 2 (v) of the Act is considered a 'person resident outside India'. 'Person of Indian Origin' ( PIO ) means a citizen of any country other than Bangladesh or Pakistan, if he at any time held an Indian passport; or, he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955; or the person is a spouse of an Indian citizen, or a person referred to in sub-clause (a) or (b). An investment by a PIO in Indian securities is treated just as investments by non-resident Indians and requires the same approvals, and enjoys the same exemptions. NRIs can pur...

Have you filed your income tax return in India before July 31? If anyone has earned an income of over Rs.100,000 in the last Indian financial year, he/she must file his tax return and pay whatever tax due at a uniform rate of 20 percent. Indian income tax regulations have many special provisions for NRIs. If NRIs have to file their returns, they would be well advised to engage the services of a qualified accountant who knows the complex laws and regulations. NRIs can also authorise the accountant to file his return on his behalf to make life simple. It is worth paying the professional fees as the accountants know the procedures and can also claim tax refund on his behalf, if needed, and deal with any tax matters that arise. The accountant can also appeal against any ruling by income tax department, if required. In addition to an accountant, NRIs can appoint an 'agent' to deal with these matters. The persons who qualify as an 'agent' is listed in the income tax rules. ...

In this section an attempt is made to analyze and highlight the implications of Budget on common man under various heading. Home is where many tax saving options still dwell Buy a home, go for joint ownership if you are two salaried persons, buy a second property, or even sell the existing one...if you plan well, there are various options to save tax on hard-earned money THE Indian economy has been witnessing a boom in the recent past. However, rising property prices and growing interest burden on home loans are worrying buyers. The Budget has not offered any relief, but you can still make ample use of the existing provisions to save substantially on property investments. Here’s how…. BUYING A HOUSE Owning a house is not just a dream but a necessity, and there are several tax benefits as well. However, when buying a house, you would do well to consider the following. (a) It’s always advisable to go in for a housing loan. Interest paid on home loans can be deducted from your taxable in...