Press Esc to close
Tuesday 28 July 2015
News updated at 3:38 AM IST
Weather
Max: 31°C
Min : 20°C
In Bengaluru
Cloudy sky

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
Bullet holes are seen on the windscreen of a car that was damaged in a gunfight...

Bullet holes are seen on the windscreen of a car that was damaged in a gunfight...

Police personnel during an encounter with the militants who attacked a police station...

Police personnel during an encounter with the militants who attacked a police station...

An Indian policeman takes position during a fight in the town of Dinanagar...

An Indian policeman takes position during a fight in the town of Dinanagar...

Police personnel take positions during an encounter with armed militants in Dinanagar town...

Police personnel take positions during an encounter with armed militants in Dinanagar town...

Wrestler Geeta Phogat walks the ramp during the launch of Pro Wrestling League...

Wrestler Geeta Phogat walks the ramp during the launch of Pro Wrestling League...

Virat Kohli along with Rahul Dravid during a practice session at MAC Stadium...

Virat Kohli along with Rahul Dravid during a practice session at MAC Stadium...

Villagers wade through flooded water of Kunye river in Birbhum district of West-Bengal...

Villagers wade through flooded water of Kunye river in Birbhum district of West-Bengal...

Security personnel stand guard at Raisina Hill in New Delhi...

Security personnel stand guard at Raisina Hill in New Delhi...

Dark clouds hover in the sky over North Block in New Delhi...

Dark clouds hover in the sky over North Block in New Delhi...

Sand artist Sudarsan Pattnaik's sand sculpture on the terrorist attack at Punjab...

Sand artist Sudarsan Pattnaik's sand sculpture on the terrorist attack at Punjab...

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