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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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Shipping training centre planned for Bharatmala
DNMUM401420 | 11/23/2017 12:00:00 AM | Author : Ateeq Shaikh | WC :336

Mumbai: Mumbai and Visakhapatnam have been finalised by the Ministry of Shipping to set up Centre of Excellence in Maritime & Ship Building (CEMS).
CEMS will train students to hone their skills in lines with the needs of the port and maritime ind
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Telcos seek time for new re-verification modes
DNMUM401421 | 11/23/2017 12:00:00 AM | Author : DNA Money Correspondent | WC :283

New Delhi: Telecom players have asked for more time for implementation of new mobile re-verification methods including one-time password (OTP).
In a letter to the Unique Identification Authority of India (UIDAI), Cellular Operators Association of
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Blurring job lines
DNMUM401422 | 11/23/2017 12:00:00 AM | Author : Katya B Naidu | WC :643

Mumbai: Not long ago, a large bank was hiring 15 people to transition to its new employees for a function called ‘managing employee experience’. Instead of looking for people with HR background for a role in the HR department, it chose to hire people
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Gift investment plans not items during festivals
DNMUM401428 | 11/23/2017 12:00:00 AM | Author : Saravana Kumar | WC :367

The festive season which usually begins with Dussehra stretches through Christmas and mostly ends with celebrating the new year. Festivals are popular not just for the celebrations that accompany them but also for the auspicious time they carry to b
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