Press Esc to close
Monday 22 September 2014
News updated at 9:38 AM IST
Weather
Max: 28.3°C
Min : 19.8°C
In Bangalore
Sunny day

FI rules will maintain FII tax sops

Mumbai, December 24, 2013, Reuters:

Foreign portfolio investors in India would be subject to the same tax treatment as foreign institutional investors, the Securities and Exchange Board of India (Sebi) clarified on Tuesday.

India had approved new rules in October aimed at streamlining the registration process for foreign investors according to which overseas investors will be classified into a newly created foreign portfolio investors category as long as their equity stake in a company does not exceed 10 per cent.

Sebi said it had received approvals from the Department of Economic Affairs and the tax department to extend the same tax benefits to the new class of investors. Sebi also approved rules announced earlier this year that will allow companies to issue debt through a shelf filing, along with regulations empowering it to monitor investors' call records and conduct searches at companies suspected of wrongdoing. The approvals came after Sebi's last board meeting for the year.


Go to Top

Photo Gallery
IMAGE DISTRIBUTED FOR AVAAZ - More than 100,000 people march through midtown Manhattan on Sunday...

IMAGE DISTRIBUTED FOR AVAAZ - More than 100,000 people march through midtown Manhattan on Sunday...

A man carries an inflatable earth balloon along West 72nd Street during the People's Climate...

A man carries an inflatable earth balloon along West 72nd Street during the People's Climate...

Actor Leonardo DiCaprio takes part in a march against climate change in New York, September...

Actor Leonardo DiCaprio takes part in a march against climate change in New York, September...

Children march during a rally against climate change in New York September 21, 2014. An...

Children march during a rally against climate change in New York September 21, 2014. An...

People dance during a rally against climate change in New York September 21, 2014. An...

People dance during a rally against climate change in New York September 21, 2014. An...

China's Yi Siling competes during the Women's 10m Air Rifle shooting competition at the 17th...

China's Yi Siling competes during the Women's 10m Air Rifle shooting competition at the 17th...

Japan's Ryosuke Irie center, launches off the blocks during the start of his men's 50m...

Japan's Ryosuke Irie center, launches off the blocks during the start of his men's 50m...

Indian squash players Dipika Pallikal and Joshna Chinappa during their (women singles)...

Indian squash players Dipika Pallikal and Joshna Chinappa during their (women singles)...

India's Ayonika Paul competes during the Women's 10m Air Rifle shooting competition at the...

India's Ayonika Paul competes during the Women's 10m Air Rifle shooting competition at the...

Myanmar's Phyu Phyu Than, top, kicks a ball as Laos's Koy Xayavong  front, blocks during...

Myanmar's Phyu Phyu Than, top, kicks a ball as Laos's Koy Xayavong front, blocks during...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523