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FOREIGN EXCHANGE MANAGEMENT ACT
Rupee value is market-driven, has no target band against US dollar: FM SitharamanFinance Minister Nirmala Sitharaman stated the rupee's value is market-determined. The Reserve Bank of India monitors foreign exchange mark...- RBI issues draft for future-ready rules related to foreign investmentsThe Reserve Bank of India has proposed new foreign investment rules. These simplified rules aim to enhance clarity and reduce complexity. I...
- EbixCash becomes first non-bank entity to get RBI nod for trade remittancesEbixCash secured a perpetual Authorised Dealer Category-II licence from the Reserve Bank of India. This licence allows the company to handl...
- ESOPs, Crypto and two other disclosures you must make in Schedule FA of the ITR for AY 2026-2027Indian taxpayers face new foreign asset reporting rules for AY 2026-2027. Schedule FA requires disclosures for foreign shares and overseas ...
- INR exchange rate while filing ITR to report foreign assets: Use this reference rate to convert foreign currency into INR as prescribed under income tax rulesIndian taxpayers must report foreign assets in their Income Tax Returns for AY 2026-27. Foreign currency amounts require conversion to Indi...
- Kazakhstan condemns attack on vessels carrying hydrocarbons in Black SeaKazakhstan condemned UAV attacks on vessels transporting oil via the Caspian Pipeline Consortium infrastructure. These attacks are viewed a...
- ITR filing: How Bitcoin, NFTs, airdrops, gifted crypto, and overseas wallets are taxed in India and how to report themIndia's virtual digital asset taxation remains among the world's toughest. Investors face a flat thirty percent tax on gains and one percen...
- NRI insurance: Benefits, risks, and features of GIFT City’s dollar-denominated insurance plansMany companies—including HDFC Life International, ICICI Prudential Life, ICICI Lombard, Star Union Dai-ichi Life, IndiaFirst Life and Tata-...
- Income Tax, MSME reforms among 7 key Bills on government's Monsoon Session agendaThe Centre will introduce five new Bills during the Monsoon Session. Key proposals include income tax reforms and increasing Supreme Court ...
- India's forex reserves rise $964 million to $675.16 billion for week ended July 10India's foreign exchange reserves increased by $964 million to $675.16 billion. Foreign currency assets, the largest component, grew by $93...
- Indian state-run banks estimate $30 bln flow from overseas deposit scheme, sources sayIndian state-run banks expect to raise nearly $30 billion through the RBI's subsidised NRI dollar deposit scheme by September 30, bankers t...
- NRIs can bring USD 70-80 bn into India through FCNR deposits: ExpertNon-Resident Indians can bring seventy to eighty billion US dollars into India. This inflow is possible through the ongoing FCNR initiative...
- Opposition leaders to meet on July 20 to finalise strategy for Monsoon SessionLeaders of Opposition parties in the Rajya Sabha and Lok Sabha will meet on July 20 (Monday), the opening day of the Monsoon Session of Par...
- Foreign or local? Investors at loss over GIFT fundsInvestors are grappling with confusion when it comes to reporting GIFT City fund investments in their tax returns. Fund houses provide vary...
- Govt to replace Ordinance by introducing Income-tax (Amendment) Bill in Monsoon sessionParliament will soon consider a bill to replace an ordinance on tax exemptions. This aims to attract foreign capital and stabilize the rupe...
- Foreign assets in AIS: CBDT sets the stage for Foreign Assets of Small Taxpayers Disclosure SchemeThe CBDT’s decision to upload foreign financial information into taxpayers’ annual information statements may be more than an administrativ...
- Gautam Adani denies any deal linked to dismissal of US criminal case in sworn affidavitGautam Adani has categorically denied any involvement with a deal related to the dismissal of criminal charges against him. He affirmed und...
- ITR 2026: Increased disclosure requirements for overseas investments and foreign assets—are Indian taxpayers ready?Indian taxpayers face new disclosure rules for foreign assets and investments. Global information exchange frameworks necessitate accurate ...
- RBI steps up scrutiny of Corporate India's foreign investmentsIndian banks are now mandated to disclose their anti-money laundering measures concerning international business partners. Corporations wit...
- ED initiates FEMA investigation against Mumbai-based film producerSearches were conducted against Kalanee Impex Ltd. and its director Dharmesh Sangani. Officials alleged undisclosed foreign assets and bank...
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