India Mutual Funds Pfic Rules








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Indian Americans: What not to forget while filing US taxes - Times of India
These funds in the US fall under the category of Passive Foreign Investment Company ( PFIC ). In a nutshell, according to the PFIC rules , any notional gains from a mutual fund or private equity fund holdings must be declared every year and tax must be.

Sebi issues new rules to categorise similar mutual fund schemes to help investors
The schemes will be broadly classified in five groups – equity, debt, hybrid, solution oriented and other scheme, Securities and Exchange Board of India (Sebi) said in a circular. Sebi asked mutual funds to ensure that schemes devised under the news.

How NRIs’ India mutual funds are taxed in US
Mutual funds in India maybe a great investment ... of Passive Foreign Investment Company (PFIC). Vinay Navani, CPA and director of tax at New Jersey based firm Wilkin & Guttenplan, P.C, gives a background, "PFIC rules were introduced by the Internal.

How Best to Avoid Becoming a Passive Foreign Investment Company (PFIC) - Huffington Post
Is the company sitting on mostly cash (from a big investment round)? If so, you may be subject to another set of reporting rules and elections. Below are some ... Examples include a foreign mutual fund , private investment company or hedge fund. A.

How NRIs' India mutual funds are taxed in US - Times of India
Foreign mutual funds in the US fall under the category of Passive Foreign Investment Company ( PFIC ). Vinay Navani, CPA and director of tax at New Jersey based firm Wilkin & Guttenplan, P.C, gives a background, " PFIC rules were introduced by the.

FundsIndia launches one-step Aadhaar linking of MF folios
As per government rules, all mutual fund ... FundsIndia, an initiative of Wealth India Financial Services, is India’s first online-only investment website. It offers an array of financial products like mutual funds, equities, and deposits.

How NRIs' Mutual Funds Get Taxed in U.S.
Kundra says, "According to this proposed amendment, if a US citizen or resident owning PFIC stock renounces citizenship or abandons US residency, thereby becoming a nonresident alien for US tax purposes, the individual is deemed to sell the PFIC stock on.

Understanding Taxation Of Foreign Investments - Investopedia
If a foreign-based mutual fund or partnership has at least one U.S. shareholder, it's designated as a Passive Foreign Investment Company, or PFIC . The classification includes foreign entities that make at least 75% of their revenue from passive income.

Canada: Twelve Canada-US Tax Tips For 2016 - Mondaq News Alerts
By now the 2015 holiday season is a distant memory, as are most of those well-meaning 2016 resolutions. For those individuals with both Canada and US tax issues, tax filing season is a few months away; however, there are several steps you can take that&nbsp.

New rules for U.S. taxpayers with mutual funds
A PFIC exists when 75% or more of its gross income for the taxable year consists of passive income, or at least half its assets produce, or are held for the production of, passive income. Effectively, this includes almost all Canadian mutual funds and.