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Accrued gains are taxed even for non-citizens

DNMUM396591 | 9/14/2017 | Author : Harsh Roongta | WC :752

personal finance

My daughter was born in the US and hence is a US passport holder. However, we returned to India 17 years ago. So, she is a resident of India holding an Overseas Citizen of India (OCI) card. Mutual fund distributors are suggesting to apply for her KYC as resident. Please advise on the correct status to apply for KYC/ FATCA for her.
Investors frequently get confused between residential status and nationality. Since your daughter is currently a resident in India she will have to register as a resident only. Of course while registering she needs to provide the details of her US nationality and her US tax ID number in the relevant places. Please take proper professional consultation as US citizens may have to pay tax
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Accountability must start from the top
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EPFO cut may hurt employee sentiments
DNMUM408319 | 2/22/2018 12:00:00 AM | Author : Edit | WC :226

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Quarterly GST returns filing may be extended to all cos
DNMUM408320 | 2/22/2018 12:00:00 AM | Author : Anjul Tomar | WC :347

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