Press Esc to close
Friday 28 November 2014
News updated at 7:42 PM IST
Weather
Max: 29.2°C
Min : 16.5°C
In Bengaluru
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
Prime Minister Narendra Modi on his departure after attending SAARC summit...

Prime Minister Narendra Modi on his departure after attending SAARC summit...

A boy salvages for belongings amid the debris of his house in Mumbai...

A boy salvages for belongings amid the debris of his house in Mumbai...

Shyam Benegal with Naseeruddin Shah during the launch of the latter's book...

Shyam Benegal with Naseeruddin Shah during the launch of the latter's book...

Actor turned politician Kushboo with Congress vice president Rahul Gandhi...

Actor turned politician Kushboo with Congress vice president Rahul Gandhi...

An Indian army soldier keeps vigil near Pindi Khattar village...

An Indian army soldier keeps vigil near Pindi Khattar village...

Men play soccer at a field in Peshawar...

Men play soccer at a field in Peshawar...

NorthEast United FC players celebrate their third goal against Chennaiyin FC...

NorthEast United FC players celebrate their third goal against Chennaiyin FC...

An injured soldier is taken to hosp during a gunbattle with militants at Pindi Khattar village...

An injured soldier is taken to hosp during a gunbattle with militants at Pindi Khattar village...

Netanyahu attends the annual memorial ceremony for Israel's first prime minister, David Ben-Gurion..

Netanyahu attends the annual memorial ceremony for Israel's first prime minister, David Ben-Gurion..

Sharif holds hands with  Modi and  Ashraf Ghani during the closing session of the SAARC summit...

Sharif holds hands with Modi and Ashraf Ghani during the closing session of the SAARC summit...

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