Revamping RBI and SEBI’s Policy on Overseas Investment for AIFs Addressing the Investment Cap Challenge The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) stand at a pivotal juncture, with a compelling need to reassess the overseas investment framework for Alternative Investment Funds (AIFs), including angel investors. The present cap of $1.5 billion on such investments, established in August 2023, has proven to be limiting, evidenced by a significant […]

Tax Implications for Gifts Between Father’s and Son’s HUF Navigating the complexities of financial compliance and tax regulations is critical for ensuring optimal growth and adherence to legal requirements. Understanding how the income tax laws apply to gifts within Hindu Undivided Families (HUFs) is essential for effective financial planning. Overview Your HUF Composition: Members: You, your wife, one unmarried daughter, and one son. Son’s HUF Composition: Members: Your son, his wife, and two minor daughters. […]

Mauritius: A New Horizon in GIFT City Collaboration The Strategic Pivot to GIFT City Mauritius, once an agriculture-and-tourism-focused economy, now aims to redefine its position in the global financial landscape. Seven years post losing its tax benefit allure for Indian investors, Mauritius envisions a strategic comeback, harnessing the potential of Gujarat International Finance Tec-City (GIFT City). The nation’s pivot towards establishing an International Financial Centre (IFC) within GIFT City underscores its intention to foster a […]

Appointment of Directors in NBFCs: A Comprehensive Guide Gain insights into the procedures involved in appointing directors within Non-Banking Financial Companies (NBFCs). Explore the regulatory framework, duties, and qualifications necessary for individuals assuming directorial positions, ensuring compliance and effective governance. Introduction to NBFCs and Directorship Non-Banking Financial Companies (NBFCs) play a vital role in the Indian financial system by offering a diverse range of financial services. These include loans, credit facilities, retirement planning, and wealth […]

GIFT City Regulatory Changes Impact Investment Dynamics Overview of Regulatory Actions In a significant move reflecting stringent regulatory oversight, the Gujarat International Finance Tec-City (GIFT City) regulator has temporarily paused approvals for local family offices looking to invest abroad over rising tax concerns. This decision comes directly in response to feedback from the Reserve Bank of India (RBI), showcasing a coordinated approach to financial regulation. Rationale Behind the Halt Concerns have risen about potential tax […]