Who is an FVCI?
FVCI stands acronym for Foreign Venture Capital Investor’ (FVCI). FVCIs are investors incorporated and established outside India and registered with the Securities and Exchange Board of India under the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000. They can make an investment in India in terms of schedule 7 of FEMA…
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New eget neque – tellus ornare ullamcorper sed
Imperdiet dignissim, convallis vitae nisl. Nullam eget - neque ut tellus ornare ullamcorper sed a dolor nulla metus.
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Method of Tax Collection at source is now modified by the Income Tax department
(According to the new rules employer need not deduct tax at source if salary income including the value of perquisites is not taxable after giving effect to the exemptions, deductions, and relief as applicable). Section 192 of the Income Tax Act, of 1961 deals with tax deducted at source (TDS) on salary. According to this…
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What is meant by Foreign Investment, Foreign Direct Investment, and Foreign Portfolio Investment?
This article distinguishes amongst foreign investment, Foreign Direct Investment, Foreign Portfolio investments, Qualified Foreign Investor (QFI), Foreign Institutional Investor (FII), etc. Foreign Investment: Any investment made by a person resident outside India on a repatriable basis in capital instruments of an Indian company or to the capital of a Limited Liability Partnership (LLP) is known…
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PNB,Union Bank, Canara Bank, and Indian Bank announce share-swap ratios for merged entities
The four anchor banks PNB, Union Bank, Canara Bank, and Indian Bank approved mergers of the other 6 PSBs and issued share-swap ratios for the proposed mergers. The details of share-swapping are as under.PNB: 1150 share of PNB for every 1000 shares of OBC 121 shares of PNB for every 1000 shares of United Bank…
RBI announces Scheme of Reconstruction for YES bank
The Yes Bank Ltd. was placed under an order of moratorium on March 5, 2020 which will be effective up to April 3, 2020.In this regard, RBI published a draft scheme of reconstruction of the Yes Bank Ltd.in public domain inviting suggestions and comments from the public as well as all the stake holders of…
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