Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARD :: TDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« News Headlines »
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year

NRIs told to get PAN for trading
October, 28th 2006

The Securities and Exchange Board of India on Friday said it was withdrawing the limited purpose beneficiary owner account/ trading account facility for non-resident Indians (NRIs) and persons of Indian origin (PIO) without a permanent account number (PAN).

This follows the Directorate of Income Tax issuing guidelines facilitating Indian citizens residing outside India, foreign citizens and other persons (like companies, trusts or firms) having no office of their own in India, to obtain PAN based on the copy of their passport as ID proof and copy of passport/copy of bank account in the country of residence as address proof.

The NRIs/PIOs, who have already opened such BO accounts/trading accounts without PAN, shall be required to comply with the mandatory requirement of PAN on or before December 31, 06, failing which such accounts shall be made inoperable by the depository/depository participant/broker, the Sebi circular said.

Following representations from NRIs and PIOs, who were unable to obtain a PAN card for some reason but were holding physical securities which they wanted to sell, the Sebi had in July allow them to open a limited purpose BO account without PAN, subject to certain conditions specified therein.

In the last week of September, the same was also extended for trading in cash market for such NRIs/PIOs. Sebi has asked the depositories and stock exchanges to make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions