In case of FPIs
, the Income Tax Act 1961 contains special provisions [section 115AD read with section 2(14) of the Act] for taxation of income from derivatives.
Hence, it is proposed to rationalize and streamline the existing Know Your Customer (KYC) norms for FPIs
to make it more investor friendly without compromising the integrity of cross-border capital flows.
In order to ensure foreign exchange stability and enhance US dollar liquidity, the lender of last resort, in June 2018, increased dollar supply to Bureau De Exchanges (BDCs) by 50 per cent and mandated each BDC to purchase $60,000 per week, directed banks to sell dollars across the counter to all travellers with valid documents and also signalled the use of stop rates as against increasing Monetary Policy Rate (MPR) beyond 14 per cent in order to stem the tide of sell-offs by FPIs
Equity markets have been jittery following the announcement of the treaty changes (on May 10), as the benchmark index - BSE Sensex - dropped 176 points (0.7 per cent) from 25,773 to 25,597, the next day, mainly on concerns that the change in tax treatment may lead to a pull-out of FPI
With higher interest rates in the US, FPIs
are expected to be led away from emerging markets such as India.
A study done in Bengaluru, with 104 FPIs
installed, has shown that the downtime has been reduced by nearly 43% after installing the FPIs
as stand-alone devices, says a Sun Electric's spokesperson.
The aim of the present study was to examine antecedents and consequences of discretionary use of FPIS
by family physicians in Turkey.
The status of FPIs
' compliance with the SEC mandate is in a Catch-22.
Indeed, four out of 10 foreign private issuers (FPIs
) questioned in an Ernst & Young survey said they had anticipated being compliant with Section 404 of Sarbanes-Oxley with only one or two months to spare when the deadline was extended.
Major demands of the slowdown-hit industries, especially automobile, FMCG (Fast-Moving Consumer Goods), include a reduction in the GST (Goods and Services Tax) and the rollback of the super-rich tax for FPIs
(Foreign Portfolio Investors).
The surcharge removal on FPIs
and domestic investors will soothe the markets," Kumar said.
On a net basis, foreign portfolio investors (FPIs
) sold shares worth Rs 386.44 crore Thursday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 87.96 crore, provisional data available with BSE showed.