Press Esc to close
Monday 28 July 2014
News updated at 3:45 PM IST
Weather
Max: 0°C
Min : 0°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
Force India Formula One driver Sergio Perez sits in his car after a crash during the Hungarian F1...

Force India Formula One driver Sergio Perez sits in his car after a crash during the Hungarian F1...

Cars burnt in clashes between two communities a day before is being removed by crane...

Cars burnt in clashes between two communities a day before is being removed by crane...

Renovation work being carried out by the NDMC at the Lodhi Garden in New Delhi...

Renovation work being carried out by the NDMC at the Lodhi Garden in New Delhi...

A man holds an umbrella as he rides a bicycle through a street during monsoon rains in Mumba....

A man holds an umbrella as he rides a bicycle through a street during monsoon rains in Mumba....

Flooded street duirng the continue rain in Mumbai...

Flooded street duirng the continue rain in Mumbai...

A boy sits on his handmade raft as he collects floating recyclable material in the waters...

A boy sits on his handmade raft as he collects floating recyclable material in the waters...

Muslims shout slogans during a demonstration to protest against Israeli airstrikes on Gaza strip...

Muslims shout slogans during a demonstration to protest against Israeli airstrikes on Gaza strip...

Muslims throng a marketplace near the Jama Mosque illuminated during the holy month of Ramadan...

Muslims throng a marketplace near the Jama Mosque illuminated during the holy month of Ramadan...

Shoppers crowd at a market ahead of the Eid al-Fitr festival in Ahmedabad. The Eid al-Fitr...

Shoppers crowd at a market ahead of the Eid al-Fitr festival in Ahmedabad. The Eid al-Fitr...

Muslims prepare plates of food for an Iftar (breaking of fast) meal, inside a mosque during the...

Muslims prepare plates of food for an Iftar (breaking of fast) meal, inside a mosque during the...

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