Monday , December 29, 2025 |   22:08:10 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
DTAA - Once it is shown that leased aircraft formed part of fleet used on both domestic and international sectors, rental income falls within protective ambit of Article 8(1) of Indo-Ireland Treaty: ITAT (See Breaking News) I-T - Routine repairs do not constitute 'FTS' as they are not technical services, and payments for these services alone does not attract Sec 9(1)(vii), and not liable to tax at source u/s 195: ITAT (See Breaking News) DTAA - Assessee cannot avail benefit under India-Cyprus DTAA, where Assessee is not found to be beneficial owner of income in question: ITAT (See Breaking News) I-T - CIT(A) must provide proper & adequate opportunity of hearing to assessee, who shall substantiate its case with all relevant paper books and documents without delay: ITAT (See Breaking News) I-T - Taxpayer has right to rely on treaty provisions and question of touching brought forward capital losses does not arise in subsequent AYs once eligibility to carry these losses forward was determined in year they were suffered: ITAT (See Breaking News) TP - Mere failure to satisfy need/purpose/benefit/rendition test alone is no basis to disallow intra group services between AEs: ITAT (See Breaking News) Treaty-shopping: Nepal ejects Mauritius out of its cart (See TII Edit) TP - Resale price method is most appropriate for benchmarking international transaction in its distribution segment: ITAT (See Breaking News) TP - CIT(A) ought not to have restored matter back to AO under mistaken view that it was ex-parte order: ITAT (See Breaking News) I-T - 'Test of imparting' is touchstone if foreign entity continues to use its own industrial and commercial experience to render services, and essence of royalty lies in alienation, not in application: ITAT (See Breaking News) I-T - Reimbursements of expenses made on cost to cost basis, i.e. without any markup, cannot be treated as FIS, in absence of make available clause: ITAT (See Breaking News) I-T - No attribution of profit can be made to PE when there is no existence of PE at all: ITAT (See Breaking News) I-T - Payments made for providing standard facility for data processing without any human intervention, is not taxable in India as FTS in terms of Sec 9(1)(vii): ITAT (See Breaking News) I-T - Receipts from distribution activity is not royalty in absence of dependent agent PE: ITAT (See Breaking News) TP - If there was no value addition, and assessee only sought reimbursement of expenses on cost to cost basis, no ALP adjustment is permitted on account of same: ITAT (See Breaking News) DTAA - Concepts like virtual PE or Significant Economic Presence, while reflecting evolving international taxation trends, cannot be judicially read into a DTAA, absent express amendment: HC (See Breaking News) DTAA - OECD materials and practices of other jurisdictions are not relevant against clear language in relevant DTAA: HC (See Breaking News) I-T - Mismatches in limbs of provisions of section 271(1)(c) renders levy of penalty invalid: ITAT (See Breaking News)
 
TII SEARCH
 
 
   
Home >>
 

Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India
By TII
Dec 28, 2016 , Mumbai

    

A P (DIR Series)

CIRCULAR NO

23/RBI, Dated: December 27, 2016

To

All Category - I Authorised Dealer Banks

Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (the Principal Regulations) notified vide Notification No. FEMA.20/2000-RB dated May 3, 2000, as amended from time to time, in terms of which, eligible investors, viz., SEBI registered Foreign Institutional Investors (FIIs), Qualified Foreign Investors (QFIs), registered Foreign Portfolio Investors (FPIs) and long term investors registered with SEBI, may purchase securities indicated in Schedule 5 on repatriation basis and subject to such terms and conditions as may be specified by the SEBI and the Reserve Bank from time to time.

2. With a view to providing flexibility in regard to the manner in which non-convertible debentures/bonds issued by Indian companies can be acquired by FPIs, it has now been decided to allow them to transact in such instruments either directly or in any manner as per the prevalent/approved market practice.

3. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers.

4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

RBI/2016-17/197

(T Rabi Sankar)
Chief General Manager

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR
  • MAP
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • UN Model Taxation
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • FDI Circulars
  • RBI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • Multimodal Transportation
  • Vienna Convention
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2025 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.