In April, Gold ETFs experienced a net outflow of ₹396 crore, marking the first withdrawal since March 2023 due to profit booking.
Despite this decline, the asset under management rose by 5% to ₹32,789 crore at April-end.
The receipt of ESOP from overseas companies can lead to unexpected encounters with the stringent black money law for some individuals in India. Recent notices from the income tax department highlight discrepancies between reported income in annual tax returns and information obtained through international tax agreements.
Failure to disclose dividends reinvested from Esops and inadequate reporting of Esop-related transactions have triggered these notices. While there’s no intention to evade taxes, such cases suggest a need for clearer guidelines to ensure proper tax disclosure and compliance.
R. Lakshmi Kanth Rao has been appointed as Executive Director by the Reserve Bank of India, effective May 10, 2024. Prior to this role, Rao served as Chief General Manager-in-Charge in the Department of Regulation. In his new position, he will oversee the Deposit Insurance and Credit Guarantee Corporation, Right to Information Act (FAA), and the Department of Communication
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