24 carat financial services

An Indian citizen or a person of Indian origin, who is not a resident as defined above, is called an NRI (Non-Resident Indian) for the purpose of taxation. One can avail of share market tips at 24cfin to elaborately know about the taxation norms. NRIs have the option of being covered by the special provisions of chapter XII A of the Income Tax Act, for investment income earned on assets. Interest earned on NRE accounts, FCNR and RFC deposits are exempt from tax. Any investment income from specified assets is taxed at the rate of 20% and long-term capital gains at the rate of 10%. Specified assets include shares, debentures, government securities, deposits and other notified assets acquired out of foreign exchange. The NRI will not have the benefit of deduction under chapter VIA or benefit of cost indexation for capital gains, if they chose to use the concessions of this chapter. They do not have to file income tax return if the income covered under this head is the only income f

KYC is mandatory for all investors (individuals and non-individuals) in a service providing scheme, irrespective of the amount invested. In case of joint applications for a fund, all the joint holders need to be KYC compliant. For investments by a minor, the Guardian should be KYC compliant. The minor, upon attaining majority, should immediately apply for KYC compliance in his/ her own capacity and intimate the concerned option trading tips providers. Investors who wish to invest through a Power of Attorney (PoA) holder have to ensure that both the investor and the PoA holder should be KYC compliant. SEBI has issued the KYC Registration Agency Regulations, 2011 in exercise of the powers conferred under the SEBI Act. Under the said Regulations, a KYC Registration Agency (KRA) is a company formed and registered under the Companies Act, 2013 and which has been granted a certificate of registration under the Regulations. The KRA must obtain the KYC documents of the client