A significant tax development is on the horizon for non-resident Indians in the US. The US government’s House Ways and Means Committee has advanced a sweeping bill titled the “One Big Beautiful” Tax Act, aimed at extending several provisions of the 2017 Tax Cuts and Jobs Act (TCJA) and introducing new tax measures. Among these…
With India’s mutual fund industry hitting the market regulator’s $7 billion overseas investment limit, one door has been shut for Indian investors looking for global diversification. But they have the alternative option of investing overseas through portfolio management services (PMS), which are professionally managed funds with access to international markets. This route requires investors to…
Receiving an inheritance can be complex, especially if it involves cross-border transfers. Diya (name changed), a 60-year-old woman, found herself in a difficult situation when her father passed away in February 2023. She had dual US and Norway citizenship and an Overseas Citizen of India (OCI) card, and had been living in Norway with her…
Finance Minister Nirmala Sitharaman’s announcement to hike taxes on short-term capital gains has sparked debate among financial experts, raising crucial questions about its potential impact on investor sentiment, the relative appeal of various asset classes, and the long-term implications for the growth and development of India’s mutual fund sector. Experts weigh in on the implications…
