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DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

Live Law

The Delhi High Court has held that 'software' being an intangible property, cannot alone constitute 'Permanent Establishment' of a foreign entity in India. In the case at hand, the issue before the Court was whether the Voyager software provided by Western Union Financial Services Inc. to its agents in India would constitute PE, for the purposes of taxation in India. …

India Court Indian Software Union Western Agents

DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

Live Law

The Delhi High Court has held that 'software' being an intangible property, cannot alone constitute 'Permanent Establishment' of a foreign entity in India. In the case at hand, the issue before the Court was whether the Voyager software provided by Western Union Financial Services Inc. to its agents in India would constitute PE, for the purposes of taxation in India. …

India Court Indian Software Union Western Agents

1 week, 1 day ago

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024

Hindustan Times

The Finance Ministry said on Saturday that from January to November of this year, 15,547 crore transactions of ₹223 lakh crore were handled through the Unified Payments Interface. From January to November of this year, 15,547 crore transactions of ₹ 223 lakh crore were made over the Unified Payments Interface, "demonstrating its transformative impact on financial transactions" in India.) The …

India Financial Transactions Payment Crore Transactions Upi

3 weeks, 1 day ago

Can an NRI-turned-resident freely repatriate foreign currency non-resident account FD?

Live Mint

When an NRI becomes a resident, can the foreign currency non-resident account FD be freely repatriated without coming under the ambit of the liberalised remittance scheme? Only an NRI or a non-resident of Indian origin is permitted to open a foreign currency account or the FCNR account as the name suggests, is a foreign currency deposit account in India. Regulations …

India Currency Fema Resident Foreign Nri Lrs

3 weeks, 1 day ago

Khalistani protesters disrupt consular camps for Indian pensioners in Scarborough, Canada

Op India

On 30th November, pro-Khalistan elements protested against the Indian government outside the Lakshmi Narayan Temple in Scarborough, Ontario, Canada. The Khalistanis protested outside the temple while Indian consulates in Canada were conducting annual consular camps to assist elderly Indian nationals living in Canada by providing life certificates. #cdnpoli #Scarborough #ProtestMania pic.twitter.com/UZCoGkG7i1 — Caryma Sa'd – Lawyer + Political Satirist November …

Camps Canada Court Indian Hindu Temple Scarborough

3 weeks, 6 days ago

Sending money abroad? Here’s how to reclaim your TCS

Live Mint

I want to send money to my son in the US under the Liberalised Remittance Scheme. However, the increased tax rate is applicable only on transfers made on or after 23 July 2024. For transfers during 1 April 2023 to 22 July 2024, earlier tax rate of 10% is applicable. Also, in case of short-term capital gain, the tax rate …

Tax Capital Gains 2024 Rate 1 April Tcs Ltcg

4 weeks ago

NRI taxation: How will a gift from cousin be taxed?

Live Mint

My wife and I live and work in France. My wife’s cousin wanted to gift her money by wire transfer after we hosted her cousin’s family recently while on their trip to France. -Name withheld on request Under foreign exchange regulations, your wife’s cousin is permitted to gift money by making a remittance to your wife’s bank account in France. …

India France Gift Wife My Wife Nri Taxation

1 month, 1 week ago

Bitcoin hits new highs: Is Trump’s pro-crypto agenda the catalyst?

Firstpost

Donald Trump’s re-election has sparked a crypto frenzy, sending Bitcoin soaring past $80,000 as investors anticipate a friendlier regulatory landscape. With Trump pledging to make the US the ‘crypto capital of the world’ and even proposing a national Bitcoin reserve, digital assets are gaining unprecedented momentum Republican presidential nominee and former US President Donald Trump speaks at the Bitcoin 2024 …

India Market Trump Crypto Indian Investors Donald Trump

1 month, 2 weeks ago

Wei Wang learns fate over $33m money laundering racket

Daily Mail

A man will spend more than two years behind bars for running a sophisticated $33 million money laundering operation. Wei Wang learnt his fate at Melbourne's County Court on Thursday after pleading guilty to four counts of dealing with money suspected to be proceeds of crime. Wei Wang will spend at least two-and-a-half years behind bars Another $117,000 was discovered …

Wang Bank Accounts Million Money Wei Wang

1 month, 3 weeks ago

Expats impressed by payment services in Shanghai

China Daily

Shanghai has garnered praise for its seamless financial services catering to both short-term foreign visitors and long-term expat residents, according to feedback from four expats on Oct 25. At the event, Bank of China showcased a range of services, including foreign card payments, currency exchange, mobile payments, and assistance with opening and managing local bank accounts, as well as tax …

China Japan Financial Services Payments Financial Services Bank

3 months, 2 weeks ago

Single window clearance, lower stamp duty on Credai Bengaluru’s list of recommendations for Karnataka government

Hindustan Times

The Bengaluru chapter of the Confederation of Real Estate Developers' Associations of India has presented a memorandum to the Karnataka government to implement reforms that would help streamline real estate development in the IT capital, Amar Mysore, president of the organisation said on September 4. Single window clearance and lower stamp duty are amongst some of the issues on Credai …

India Bengaluru Karnataka Credai Karnataka Government Credai Bengaluru

4 months, 3 weeks ago

CAG report reveals irregularities in labour cess remittance to construction workers’ welfare board; ₹221.81 crore pending, it says

The Hindu

The Comptroller and Auditor General of India’s recent report has pointed to irregularities in remitting labour cess to the Tamil Nadu Construction Workers Welfare Board, by the local bodies in the State. A whopping ₹221.81 crore is pending for remittance by 99 local bodies in 10 districts in Tamil Nadu, according to the report. But, the audit, which covered 124 …

Tamil Nadu Local Local Bodies Report Cag Bodies

5 months, 1 week ago

Union Budget 2024: Overseas credit card spending above ₹7 lakh may be taxed 20%

Hindustan Times

The Union Budget 2024, which is scheduled to be presented on July 23 may bring overseas credit card spending above ₹7 lakh under the Liberalised Remittance Scheme, which means that the government would be able to collect a 20% tax on it, Moneycontrol reported, citing an unnamed government official. Expenses paid internationally using debit cards, forex cards, or other payment …

India Tax Credit Card Budget 2024 Tcs Union Budget

5 months, 1 week ago

RBI allows resident Indians to open foreign currency accounts in GIFT City

Live Mint

The Reserve Bank of India has expanded the scope of remittances to International Financial Services Centres under the Liberalised Remittance Scheme allowing Indian residents to open foreign currency accounts in Gujarat International Finance Tec-City. On Wednesday, RBI decided to allow authorised persons to facilitate remittances for availing financial services or financial products as per the International Financial Services Centres Authority …

Financial Currency Foreign Rbi Foreign Currency Gift City Lrs

5 months, 2 weeks ago

Chart Beat: Stable net remittances a boost for India’s external position

Live Mint

India's outward remittances have jumped substantially over the past 10 years. Remittances play a crucial role in a country’s balance of payments position - more so in the case of India, given its current account deficit. India’s net remittances as a percentage of gross domestic product were stable at 3% in FY24, at about the same level as in FY23. …

India Remittances Remittance Inflows

5 months, 3 weeks ago

Sebi amends FPIs' registration rules

Deccan Chronicle

New Delhi: Sebi has tweaked the guidelines for registration of Foreign Portfolio Investors pertaining to non-resident Indians, overseas citizens of India and resident Indians as participant of such foreign investors.Under the new rule, FPIs applying for registration need to ensure that the contribution of a single NRI or overseas citizen of India or resident Indian in its corpus is below …

India Indian Fpi Resident Indians

5 months, 3 weeks ago

India received $120 billion in remittances in 2023, most from US: World Bank

India Today

India received $120 billion in remittances in 2023, which is almost twice as $66 billion received by Mexico during the same period, the World Bank said in a report released on Wednesday. "Growing at 7.5 per cent, remittance flows to India touched $120 billion in 2023, reflecting the benefits of a deceleration in inflation and strong labour markets in the …

India World Bank World Bank Countries Billion Cent

6 months ago

TGSRTC Moves HC Against Damages for Delay in Payment of PF Dues

Deccan Chronicle

Hyderabad: The Telangana State Road Transport Corporation has approached the Telangana High Court challenging the proceedings of the Employees Provident Fund Organisation, which imposed damages for the delay in remitting the PF dues for the period between March 2014 and September 2019. In an order issued on March 21, 2024, the Regional Commissioner of the Provident Fund directed the managing …

Commissioner Epfo Regional Tgsrtc Epf Pf Dues

6 months, 3 weeks ago

Do I need to report inward remittances?

Live Mint

I am an engineer working in Saudi Arabia and have been repatriating my income to India via remittances to my Non-Resident External account. —Jaydip Patel The Indian income tax law does not tax incomes that have been earned by a non-resident outside India, unless they are received directly in India. Interest earned on Foreign Currency Non-Resident and Non-Resident External deposits …

India Tax Income Nri Earned Deposits Remittance

7 months, 2 weeks ago

World Migration Report 2024: India received $111 billion in remittances in 2022

The Hindu

According to the United Nations’ latest World Migration Report, India was the highest recipient of remittances from abroad at $111 billion in 2022. The report enumerated that with a “very large” number of migrant workers from the subregion, South Asia receives “some of the largest inflows of remittances globally.” It further stated, “India is also the origin of the largest …

India Bangladesh Migrant Workers Migrant Countries Report Gulf

7 months, 2 weeks ago

India received over $111 billion in remittances in 2022, first country to ever reach that figure: U.N.

The Hindu

India received over $111 billion in remittances in 2022, the largest in the world, becoming the first country to reach and even surpass the $100 billion mark, the United Nations migration agency has said. The International Organisation for Migration, in its World Migration Report 2024 launched Tuesday, said that in 2022, India, Mexico, China, the Philippines and France were the …

India International China Pakistan World Migration Bangladesh

8 months, 1 week ago

For investments abroad, opt for direct stocks

Live Mint

Investment in global equity is one of the avenues for diversifying your portfolio. There are Exchange Traded Funds that are listed at stock exchanges in India—the National Stock Exchange and BSE, which invest in stocks abroad. Investments in stocks abroad will be part of India’s Liberalized Remittance Scheme of $250,000 per financial year. Apart from NSE IFSC, there are global …

India Funds Invest Rate Exchange Ifsc Your Portfolio

8 months, 3 weeks ago

Four men arrested for allegedly laundering $39million to China from Melbourne

Daily Mail

This video is no longer available This video is no longer available They alleged laundered millions of dollars to China A criminal syndicate is accused of laundering more than $39million in cash to China using a network of associates in Melbourne. Four alleged members of a Chinese gang have been charged by the Australian Federal Police The criminal syndicate is …

China Chinese Melbourne Charged Cash Box Hill Doncaster East

10 months, 1 week ago

Been receiving notices from ED and other agencies, says Paytm parent

The Hindu

Amid reports that the Enforcement Directorate had on Wednesday filed cases against Paytm for alleged FEMA violations, One 97 Communications Ltd., the parent company of Paytm, neither confirmed nor denied the reports and told stock exchanges that the company, its subsidiaries and its associate, Paytm Payments Bank Limited, have over time been receiving notices from various authorities including the ED. …

Paytm

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Search results for remittance

DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024

Can an NRI-turned-resident freely repatriate foreign currency non-resident account FD?

Khalistani protesters disrupt consular camps for Indian pensioners in Scarborough, Canada

Sending money abroad? Here’s how to reclaim your TCS

NRI taxation: How will a gift from cousin be taxed?

Bitcoin hits new highs: Is Trump’s pro-crypto agenda the catalyst?

Wei Wang learns fate over $33m money laundering racket

Expats impressed by payment services in Shanghai

Single window clearance, lower stamp duty on Credai Bengaluru’s list of recommendations for Karnataka government

CAG report reveals irregularities in labour cess remittance to construction workers’ welfare board; ₹221.81 crore pending, it says

Union Budget 2024: Overseas credit card spending above ₹7 lakh may be taxed 20%

RBI allows resident Indians to open foreign currency accounts in GIFT City

Chart Beat: Stable net remittances a boost for India’s external position

Sebi amends FPIs' registration rules

India received $120 billion in remittances in 2023, most from US: World Bank

TGSRTC Moves HC Against Damages for Delay in Payment of PF Dues

Do I need to report inward remittances?

World Migration Report 2024: India received $111 billion in remittances in 2022

India received over $111 billion in remittances in 2022, first country to ever reach that figure: U.N.

For investments abroad, opt for direct stocks

Four men arrested for allegedly laundering $39million to China from Melbourne

Been receiving notices from ED and other agencies, says Paytm parent