Wiki - Investing from India

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TedSwippet
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Wiki - Investing from India

Post by TedSwippet »

[Moved into a new thread from: VTI/VXUS- Need guidance [India] --admin LadyGeek
Thread title revised 30 Aug 2020 "Investing in India" to "Investing from India" --admin LadyGeek]

Anon9001 wrote: Fri Aug 28, 2020 8:11 am... You should be very cautious of doing this method. I am still having head-aches trying to get local CA to file foreign assets properly in tax return. Now I am going to try GalacticAdvisors and see if that changes things. This is not simple at all and I regret listening to the people here regarding Interactive Brokers.
From recent postings, it seems like we could really use an 'Investing from India' page in the non-US wiki section. Do you think you have enough information to create one, or at least an outline of the issues and solutions facing Indian investors?

Anyone can become a wiki author. If you're unfamiliar with wiki authoring and/or do not have the time or inclination to pick it up, I and others can help out with any formatting. Or even all formatting, if you want to jot down notes in some other editor (MS Word or Google Docs, say).

Obviously, as much information as you can include would be preferable, but even having just the main points listed somewhere will be helpful, if that's all you have for now.
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Re: VTI/VXUS- Need guidance [India]

Post by TedSwippet »

ConfusedbutEducated wrote: Sat Aug 29, 2020 3:21 am Ted, I am happy to do it --most of my knowledge is recent in origin and from extensive research - largely because I hit upon your writings here. If you can share your email with me on a private message I will jot down my learning and share with you for your editorial critique.
Thanks for the offer. It is best if you become a wiki author. That way, more than just two of us can collaborate easily. Details here:

Help:Getting started - Bogleheads
Help:Non-US wiki guidelines - Bogleheads

You can do as much or as little of the formatting as you like. Myself or someone else can cover that. The main thing is to get basic correct information recorded. The rest is veneer.
ConfusedbutEducated wrote: Sat Aug 29, 2020 3:41 am This Irish Exit Tax which the aforesaid blog post talks about is valid only for Iris Nationals ? Correct in my assumption?
Right. The page you referenced is written for Irish resident investors. Irish every-eight-years 'exit tax', Irish capital gains tax, Irish inheritance taxes, and so on apply only to Irish residents. For non-Irish residents, Ireland domiciled ETFs are entirely 'tax transparent'. That is, there are no Irish tax implications at all of buying, holding, receiving dividends from, or selling one.

Nonresident alien investors and Ireland domiciled ETFs - Bogleheads
Last edited by TedSwippet on Sat Aug 29, 2020 1:28 pm, edited 1 time in total.
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Re: VTI/VXUS- Need guidance [India]

Post by LadyGeek »

ConfusedbutEducated wrote: Sat Aug 29, 2020 3:21 am Ted, I am happy to do it --most of my knowledge is recent in origin and from extensive research - largely because I hit upon your writings here. If you can share your email with me on a private message I will jot down my learning and share with you for your editorial critique
If you would like to become a wiki editor please PM me. I'm a wiki administrator and can provide you access.

We have a private wiki editor's forum where you can freely collaborate with TedSwippet and all of the wiki editors.

The wiki uses the same software as Wikipedia. Don't worry if you don't know how to edit Wikipedia. All you need to do is post your knowledge and we will take care of the details.

If you do not want to become a wiki editor, you can start a new thread in this forum and collaborate with everyone who can contribute. The wiki editors will develop the page for you.
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Re: VTI/VXUS- Need guidance [India]

Post by Anon9001 »

TedSwippet wrote: Sat Aug 29, 2020 2:27 am
Anon9001 wrote: Fri Aug 28, 2020 8:11 am... You should be very cautious of doing this method. I am still having head-aches trying to get local CA to file foreign assets properly in tax return. Now I am going to try GalacticAdvisors and see if that changes things. This is not simple at all and I regret listening to the people here regarding Interactive Brokers.
From recent postings, it seems like we could really use an 'Investing from India' page in the non-US wiki section. Do you think you have enough information to create one, or at least an outline of the issues and solutions facing Indian investors?

Anyone can become a wiki author. If you're unfamiliar with wiki authoring and/or do not have the time or inclination to pick it up, I and others can help out with any formatting. Or even all formatting, if you want to jot down notes in some other editor (MS Word or Google Docs, say).

Obviously, as much information as you can include would be preferable, but even having just the main points listed somewhere will be helpful, if that's all you have for now.
I might have some information useful for local investors like knowledge of tax advantaged way of accessing foreign equities. Here is a list of them to include in Wiki:

List of Indian Funds investing in Foreign Equities (65/35):

1. Aditya Birla SL International Equity Fund Plan B

2. Axis ESG Equity Fund

3. Templeton India Equity Income Fund (Emerging Markets Only,13 Foreign)

4. Parag Parikh Long Term Equity Fund (5 Foreign)

5. Axis Growth Opp Fund

6. Aditya Birla SL Dividend Yield Fund (4 Foreign)

7. SBI Focused Equity Fund (1 Foreign)

8. Franklin India Focused Equity Fund (0 Foreign)

9. Franklin India Bluechip Fund (0 Foreign)

10. IDFC Multi Cap Fund (1 Foreign)

11. Franklin India Equity Advantage Fund (0 Foreign)

12. Franklin India Prima Fund (0 Foreign)

13. SBI Magnum Global Fund (1 Foreign)

14. ICICI Pru MNC Fund (5 Foreign)

15. Kotak Pioneer Fund (Foreign=Tech Fund)

Sector:

16. Franklin India Technology Fund

17. DSP Natural Res & New Energy Fund

18. DSP Healthcare Fund

19. SBI Technology Opp Fund

20. Aditya Birla SL Digital India Fund

21. Aditya Birla SL Pharma & HealthCare Fund

22. ICICI Pru FMCG Fund
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Re: VTI/VXUS- Need guidance [India]

Post by TedSwippet »

Anon9001 wrote: Sat Aug 29, 2020 12:31 pm I might have some information useful for local investors like knowledge of tax advantaged way of accessing foreign equities. Here is a list of them to include in Wiki: ...
Thank you. This looks useful. Please can you explain a bit about the relevance of the "65/35" and "N foreign"? I'm not familiar with these terms, but it seems like they are probably important in some way.

Maybe consider becoming a wiki author too. As noted above, it's as easy -- or as time-consuming! -- as you wish to make it.
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Re: VTI/VXUS- Need guidance [India]

Post by Anon9001 »

TedSwippet wrote: Sat Aug 29, 2020 1:34 pm
Anon9001 wrote: Sat Aug 29, 2020 12:31 pm I might have some information useful for local investors like knowledge of tax advantaged way of accessing foreign equities. Here is a list of them to include in Wiki: ...
Thank you. This looks useful. Please can you explain a bit about the relevance of the "65/35" and "N foreign"? I'm not familiar with these terms, but it seems like they are probably important in some way.

Maybe consider becoming a wiki author too. As noted above, it's as easy -- or as time-consuming! -- as you wish to make it.
Right 65/35 means 65% Indian Stocks 35% Foreign Stocks. The reason for this percentage is that the local tax laws state that a fund with 65% Indian Equities is considered Indian Equity fund for taxation even though 35% of it is in foreign equities (which is tax advantaged compared to a pure foreign equity fund. Difference being the Indian Equity funds are taxed at 10% with 100,000 Rupees being tax free compared to foreign equity at 20% with inflation indexation also the same 20% taxation applies for debt funds). The N foreign means the number of foreign stocks included in the fund.
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Re: Wiki - Investing in India

Post by LadyGeek »

Let's use this thread to collaborate for the proposed wiki page.

Anon9001 - You are also welcome to become a wiki editor. Please PM me if you wish to do so.
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Re: Wiki - Investing in India

Post by LadyGeek »

I have found an existing draft page: User:CarpeDiem22/Investing in India

This was started by forum member CarpeDiem22, but has not been completed. Let's use this page to complete the content.
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Re: Wiki - Investing in India

Post by ConfusedbutEducated »

LadyGeek,

Thank you for doing this. Should we organize it in a way I outline below ? Very open to suggestions

1) How to Invest in US/EU/Rest Of World Equities from India?
a) Via Funds based in India
b) Direct Investment in Equities/ETF via Schwab/IB/others

2) Importance of Understanding the concept of TOTAL COST OF OWNERSHIP of an ETF
a) Impact of Rupee to $/Euro conversion as one time cost
b) Factoring in bid/ask spread/tracking error into your on off cost
c) impact of TER on the proposed AUM over a decade
d) Tax Efficiency -elimination of tax tax drag to the extent you can
- US Equities/US ETF's that DONT pay dividend/distribution
-Ireland Domiciled ETF's- what we dont know about them and why are they lesser sung hero's?
-US Domiciled ETF- let the buyer be aware (caveat emptor)
e) Understanding how to file your Income Tax Returns in India -if you have bought securities overseas?

3) The Devil of Estate Tax in US and how it impacts your investment ? Lessons for tomorrow

4) Tangible return's expected Return's for this effort of 'going overseas' with your portfolio.
a)Is it worth the effort?
b)Impact of the effort of buying US domiciled ETF over Ireland domiciled ETF over a decade

5) Understanding: Basics of Stock Exchange's in EU/ Index's - FTSE vs MSCI /Tickers/ISIN/Accumulating-Distributing/ Hedged-Unhedged/KIID

6) Model Portfolio's

7) Twitterati/Bogleheads who write about IE domiciled ETF's and where to read their penning

6) Web Sources



4)
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Re: Wiki - Investing in India

Post by TedSwippet »

LadyGeek wrote: Sat Aug 29, 2020 3:08 pm I have found an existing draft page: User:CarpeDiem22/Investing in India This was started by forum member CarpeDiem22, but has not been completed. Let's use this page to complete the content.
Thanks. Now that you mention it, I vaguely recall this. It looks like a promising start, so I wonder why it was abandoned? No matter. It's useful groundwork.
ConfusedbutEducated wrote: Sat Aug 29, 2020 9:37 pm Thank you for doing this. Should we organize it in a way I outline below ? Very open to suggestions
There's a visible narrative in this organisation, and it looks like a good way to proceed. The model portfolios will be especially helpful. The generic non-US pages offer some suggestions, but by their nature these are not (and cannot be) localised.

My initial thought is to introduce US estate tax issues sooner. This often dominates all other issues -- a 0.1%-0.2% or so increase in TER is nothing compared to risking loss of up to 40% of assets -- and it applies not just to US domiciled ETFs but also to directly owned US stocks, so potentially already a consideration by the time you reach 1(b). That does rather mess with its narrative thread, though.

Maybe a tl;dr 'spoiler' section? Something like, if you don't have the time to read the rationale here, just do <whatever simple thing> and you'll be fine.

I'm interested to see what 4(a) concludes. Given that some local options exists, how much gain is there really in going past those for what will be a more complex way of holding the same underlying stuff?
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Re: Wiki - Investing in India

Post by DJN »

Hi,
Small but important observation, "Investing from India" would be a more accurate title.
DJN
Yah shure. | Have a look at the Bogleheads Wiki in the first instance.
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Re: Wiki - Investing in India

Post by TedSwippet »

DJN wrote: Sun Aug 30, 2020 3:47 am Small but important observation, "Investing from India" would be a more accurate title.
Agreed. There are a couple of other "Investing in <country>" pages that have always slightly annoyed me, too:

Investing in Australia - Bogleheads
Investing in Japan - Bogleheads
Investing in Japan for US citizens and US permanent residents - Bogleheads

Also, one that breaks the convention entirely:

UK investing - Bogleheads

I've never been bothered enough about this to rename them, though. Is now the time, do you think?
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Re: Wiki - Investing in India

Post by DJN »

Hi,
I can have a go later today or tomorrow.
DJN
Yah shure. | Have a look at the Bogleheads Wiki in the first instance.
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Re: Wiki - Investing in India

Post by Anon9001 »

Right I think it's very important to add this post to the Wiki when considering investing over-seas via brokerage account:

https://www.reddit.com/r/IndiaInvestmen ... invest_in/
Part A: Reporting of foreign assets and income

You must fill out more detailed IT returns: You cannot use Saral ITR form if you hold any foreign assets (even if those are acquired by default, such as via company stock awards or 401k when you were an NRI.) If you possess any foreign holdings, including bank accounts or stocks or real estate or just cash in foreign brokerage accounts, you are required to fill out FA & FSI schedules of ITR 2/ ITR 3 or others as applicable.

This is true even if you have no other income to disclose, or even if your taxable income is below tax limit!

Even if you have had no foreign transactions during the year and only passively held any foreign assets, you must fill up FA schedule.

Disclose foreign income including dividends: You have to fill out the FSI schedule to show transactions resulting in Income from Foreign Sources, and ensure that this income is also included in your total income computation.

You have to include any capital gains (short-term or long-term) in CG schedule.

This is applicable even if you don't receive any proceeds in your Indian bank account and/or you let the gains stay with your broker as cash balance, or use it for another investment or deposit to overseas bank account

You have to include the Foreign Dividend income in OS schedule under "Income from Other Sources - Dividends"

This is applicable even if you hold stocks with automatic dividend reinvestment option, or even if you don't actually receive the dividend in your Indian bank accounts and it stays with the broker as cash balance or you transfer it to your overseas bank account!

You have to reconcile all your transactions to Indian financial year & accounting period (Apr 1 – March 31) and ensure that you do have all the statements to back up those transactions.

While reporting your foreign holdings and transactions, you cannot use that day's exchange rate as available from RBI or FBIL! There are some weird and arcane rules about how the foreign transactions are to be converted into INR. We have to use specific month-end rates from SBI!) This applies to purchase/sale transactions as well as dividends and tax withholdings / credits.

SBI Telegraphic Transfer (TT) rates are available online, on their own website, for a given day. However, their historical rates are not readily available. IT Department demands that you use the previous month-end’s rates, and not the rates as per your actual transaction date. This means, you must carefully download and preserve all the month-end TT rates throughout the financial year.



Part B: Reporting of foreign taxes paid / withheld and claiming tax relief for the same.

Report your tax relief claim: You need to fill out Form 67 that details the foreign transactions (dividends), US IRS withholdings etc. and also provide supporting documents (such as 1042-S from your broker, as well as any broker statements.) The form should ideally be submitted before you file your ITR for the given assessment year.

This form can be filled out online (in the incometaxindiaefiling.gov.in portal after you log in) and can be submitted online along with proofs, since these past few years. You do get an acknowledgement with a reference number.

Claim tax relief in ITR for any foreign taxes paid: You need to fill out schedule TR of ITR for any tax relief you are claiming. (In Excel utility, TR & FA are on the same page.)

You can claim tax relief under section 90 or 90A or 91, depending upon whether DTAA exists with that country or not.

In FA schedule, you have to also mention the article of DTAA under which tax relief is claimed.

As an example: Looking at the case of US, where IRS withholdings are at the rate of 25%: Since OS gets added in your income computation and thus overall tax computation, and since TR gets included in your tax computation as a credit similar to Indian TDS, you would effectively be paying the 5% or so of difference to Indian ITD, or taking some money back if you are in lower than 25% tax brackets.)

i. In case of US, you can claim TR under section 90, articles 10 & 25.

All the steps above would ensure that your foreign assets are reported in ITR, your foreign income is included in your income computation and your withheld foreign taxes are accounted for in your tax computation.



Part C: In practice:

This is where the things get murkier.

It seems that presently, there is little information exchange available between US IRS and Indian ITD, at least as far as small tax payers are concerned. Even if there is info exchange, maybe ITD pays only limited attention to entire set of data. Therefore, CPC is not in a position to validate the foreign taxes paid to IRS.

This, even though you ensure that your foreign broker has your Indian PAN recorded with him and he mentions the same in 1042-S form. (1042-S is the US-equivalent of Form 16-A that we get in India from Banks as TDS statement.)

As a result, CPC simply expresses its inability to process any ITR that has its TR schedule filled out and just transfers it to your Jurisdictional AO, who can happily sit on your ITR for years without processing it. (or sometimes, he processes the ITR without giving any Foreign Tax relief, which in turn may result in a tax demand.)

In effect, you are never certain if rest of the sections of your ITR are in order, and you are not sure if you would really be given foreign tax credit, and you're not sure when you will be issued any refunds due.



Part D: Repercussions of Non-compliance

Failure to report your foreign assets or income invites penal action under Black Money Act 2015.

Undisclosed foreign income and asset will be taxed at a flat rate of 30 percent.

Concealment of income and assets and evasion of tax in relation to foreign assets will be liable for prosecution with punishment of rigorous imprisonment up to 10 years

Penalty for concealment of income and assets to be levied at 300 percent of the tax sought to be evaded

Penalty of Rs. 10 lakhs may be levied on non-filing of tax return or filing of tax return with inadequate disclosure of foreign assets
This should only apply when you are using Interactive Brokers or any foreign broker to invest in foreign assets. If you are using Indian mutual fund even if it invests 100% in Foreign Assets it is not considered foreign asset by income tax department.
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Re: Wiki - Investing in India

Post by Anon9001 »

Included the Foreign Assets to CarpeDiem draft . Hope CarpeDiem doesn't mind :beer
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Re: Wiki - Investing in India

Post by LadyGeek »

TedSwippet wrote: Sun Aug 30, 2020 5:47 am
DJN wrote: Sun Aug 30, 2020 3:47 am Small but important observation, "Investing from India" would be a more accurate title.
Agreed. There are a couple of other "Investing in <country>" pages that have always slightly annoyed me, too:

Investing in Australia - Bogleheads
Investing in Japan - Bogleheads
Investing in Japan for US citizens and US permanent residents - Bogleheads

Also, one that breaks the convention entirely:

UK investing - Bogleheads

I've never been bothered enough about this to rename them, though. Is now the time, do you think?
DJN wrote: Sun Aug 30, 2020 6:03 am Hi,
I can have a go later today or tomorrow.
DJN
That's administrative work - I'll take care of it.

The draft page is now: User:CarpeDiem22/Investing from India
Anon9001 wrote: Sun Aug 30, 2020 9:09 am Included the Foreign Assets to CarpeDiem draft . Hope CarpeDiem doesn't mind :beer
Any wiki editor is welcome to edit any page - including the draft pages.

Anon9001 is now a wiki editor. Thank you!
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Re: Wiki - Investing from India

Post by LadyGeek »

^^^ The pages have been renamed to:

- Investing from Australia
- Investing from Japan
- Investing from Japan for US citizens and US permanent residents
- Investing from the UK

I used the wiki's Extension:Replace Text tool, which is restricted to administrators. This allows me to make the changes globally. In this case, I replaced the text in every content page, Talk: (discussion) page, and Template.

I then did some administrative cleanup that was affected by the new names (fix double redirects).

When anyone renames a page, be sure to keep the "Move associated talk page" and "Leave a redirect behind" boxes checked (already done for you). This will allow anyone linking from a forum post (and external website) to find the page from the old name.

================
For consistency, I also retitled this thread.

I then linked to this thread from the wiki: User:CarpeDiem22/Investing from India It's a reference if we want to revise the page at a later time. Also, this thread contains the discussion of the page content.
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Re: Wiki - Investing from India

Post by TedSwippet »

Wow, that was quick! Thanks. While we're on the subject, can I suggest a couple of other name changes? These add 'UK' somewhere into the page title of every page that is UK-specific:

1. Individual Savings Accounts -> UK Individual Savings Accounts
2. Personal Pensions -> UK personal pensions
3. Vanguard US domiciled ETFs that are HMRC reporting funds -> Vanguard US domiciled ETFs that are UK HMRC reporting funds

1 is already properly capitalised, so this just adds 'UK' at the front. 2 was not correctly capitalised from the outset, so this both adds 'UK' at the front and fixes this. 3 adds 'UK' in a sensible place within the title. All should I think be mechanical changes.

These pages aren't widely used or referenced, so if you don't have time I could complete this by hand relatively quickly.
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Re: Wiki - Investing from India

Post by LadyGeek »

^^^ I have changed the names. You might note some extra renaming for the personal pensions page, as I didn't get the capitalisation right the first time (fixed).

To the readers who are not wiki editors:

The above discussion is an example of what we do in the private wiki editor's forum. In addition to administrative aspects, we also help wiki editors with editing. If you get stuck, just ask for help and the other editors will jump in to take care of the details. We may also discuss article content.

If anyone has a suggestion to improve the wiki, please post in Suggestions for the Wiki.

If you'd like to become a wiki editor, please post in: Join the Wiki!.
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Re: Wiki - Investing in India

Post by CarpeDiem22 »

TedSwippet wrote: Sun Aug 30, 2020 3:15 am
LadyGeek wrote: Sat Aug 29, 2020 3:08 pm I have found an existing draft page: User:CarpeDiem22/Investing in India This was started by forum member CarpeDiem22, but has not been completed. Let's use this page to complete the content.
Thanks. Now that you mention it, I vaguely recall this. It looks like a promising start, so I wonder why it was abandoned? No matter. It's useful groundwork.
Thanks for sharing the page, LadyGeek. I actually logged in to share the same page before I saw it's already shared.
@TedSwippet.. Due to lack of a broader readership, I had intended the page to be a investing in India guide for Resident Indians, so there wasn't much left to add. Investing overseas is still not easy, so I was not sure what to add specific to that. I'm happy to see that we have better traction now, and more people can contribute.
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Re: Wiki - Investing from India

Post by TedSwippet »

I have edited this page somewhat to improve the way it represents tabular data, added several links to providers, and so on. I note that Barry Barnitz has also improved table rendering.

I have also updated the India template to explicitly exclude US persons living in India.
ConfusedbutEducated wrote: Sat Aug 29, 2020 9:37 pm Thank you for doing this. Should we organize it in a way I outline below ? Very open to suggestions
The page is ready for your edits whenever you are. Thanks.
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Re: Wiki - Investing from India

Post by ray.james »

WOW Ted, Thank you for all you do! Foreign domiciles are lucky to have you on bogleheads.

Will this page be added to https://www.bogleheads.org/wiki/Outline ... _domiciles ?

My suggested edits:
-----------------------------------
Under section Savings and investing in India
9. Additional Tax benefits for mutual fund investments

RGLESS: This is a scheme of government of India to expand the usage of equities as investments. For new investors,if they designate their first account as RGLESS account there are additional tax benefits of Rs.50,000 in eligible securities and avail additional tax benefit (i.e., deduction) upto Rs.25,000 under Section 80CCG. This is over and above the limit of Rs.1,00,000 currently available under Section 80C of the Income Tax Act, 1961
ref: https://nsdl.co.in/RGESS.php
ELSS -Equity linked savings scheme: With a lock-in period of 3 years this scheme offers tax deduction of up to Rs.1.5L under section 80C. However one must invest in the qualified closed ended fund.
ref: https://economictimes.indiatimes.com/mf ... 474362.cms
----------------------------------

Also, this is first time I ventured into this area of the wiki. I see a lot of information. I think it is time to add a new page . Under "Tax issues specific to US persons living outside the US" we could add a subpage on " "Tax issues specific to Non US persons regarding US situs assets". This depends on tax treaties and complexity but can have starting information of tax treatment of resident vs non resident status for us situs assets. A lot of this I have learnt here from Ted/Galeno and others. My tax treaty knowledge is limited to Singapore, Brazil and India.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939
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Re: Wiki - Investing from India

Post by TedSwippet »

ray.james wrote: Wed Sep 02, 2020 11:36 pm Will this page be added to https://www.bogleheads.org/wiki/Outline ... _domiciles ?
Absolutely yes, once completed and ready.
ray.james wrote: Wed Sep 02, 2020 11:36 pm My suggested edits:
-----------------------------------
Under section Savings and investing in India
9. Additional Tax benefits for mutual fund investments

RGLESS: This is a scheme of government of India to expand the usage of equities as investments. For new investors,if they designate their first account as RGLESS account there are additional tax benefits of Rs.50,000 in eligible securities and avail additional tax benefit (i.e., deduction) upto Rs.25,000 under Section 80CCG. This is over and above the limit of Rs.1,00,000 currently available under Section 80C of the Income Tax Act, 1961
ref: https://nsdl.co.in/RGESS.php
ELSS -Equity linked savings scheme: With a lock-in period of 3 years this scheme offers tax deduction of up to Rs.1.5L under section 80C. However one must invest in the qualified closed ended fund.
ref: https://economictimes.indiatimes.com/mf ... 474362.cms
I'll see about adding this, if nobody else does first. Do we know the precise current status of these schemes? ELSS looks to be still alive, but many sources now seem to refer to RGESS using exclusively past tense. For example:
Latest Status of RGESS
The Union Budget in 2017 proposed the phasing out of the scheme completely by 2018 due to less number of assessees. Those who invested and claimed the given benefits before the phasing out can be a part of the scheme. However, new retail investors cannot enrol under the Rajiv Gandhi Equity Savings Scheme anymore.. Read more at: https://www.fincash.com/l/rajiv-gandhi- ... ngs-scheme
While here, can I also ask here about numbering systems.

The above uses the Indian format, 1,00,000 = lakh, but the page is currently a bit mixed, a consequence of being authored by more than one person. For example, "Rs 500,000" in one place and "Rs. 10 lakhs" in another. From your post, "Rs.1,00,000" and "Rs.1.5L" add two more.

Using just one consistently would be much better. To me, using "1,00,000" seems perhaps clear enough for both Indian and western readers; that is, separators as for the Indian system, but avoiding specifically Indian terms for larger numbers. I'm sure Indians are perfectly familiar with "100,000" though, whereas westerners will trip over "lakh" and "L" (and let's not get into numbers like Rs 1 lakh crore!).

Does that seem right, fixing on "1,00,000". Or would the page be more relatable for its target audience, which is after all Indian investors (and not western ones), if it used "lakh" explicitly and consistently throughout?
ray.james wrote: Wed Sep 02, 2020 11:36 pm Also, this is first time I ventured into this area of the wiki. I see a lot of information. I think it is time to add a new page . Under "Tax issues specific to US persons living outside the US" we could add a subpage on " "Tax issues specific to Non US persons regarding US situs assets". This depends on tax treaties and complexity but can have starting information of tax treatment of resident vs non resident status for us situs assets. A lot of this I have learnt here from Ted/Galeno and others. My tax treaty knowledge is limited to Singapore, Brazil and India.
There is a whole section in this wiki page covering (the multitude of!) US tax issues for non-US persons. Perhaps you missed it somehow?

Tax issues specific to nonresident aliens

If that doesn't fit with what you expected to find, can you maybe provide a bit more detail on what you'd like to see here. Thanks.
Last edited by TedSwippet on Thu Sep 03, 2020 12:49 pm, edited 1 time in total.
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Re: Wiki - Investing from India

Post by ray.james »

TedSwippet wrote: Thu Sep 03, 2020 2:39 am
I'll see about adding this, if nobody else does first. Do we know the precise current status of these schemes? ELSS looks to be still alive, but many sources now seem to refer to RGESS using exclusively past tense. For example:
Latest Status of RGESS
The Union Budget in 2017 proposed the phasing out of the scheme completely by 2018 due to less number of assessees. Those who invested and claimed the given benefits before the phasing out can be a part of the scheme. However, new retail investors cannot enrol under the Rajiv Gandhi Equity Savings Scheme anymore.. Read more at: https://www.fincash.com/l/rajiv-gandhi- ... ngs-scheme
You are correct. No new investors are allowed. The scheme/plan is present but only for holders who used it as of 2017(the benefits should sunset in 2019). It can be skipped. Sorry missed my due diligence.
TedSwippet wrote: Thu Sep 03, 2020 2:39 am
While here, can I also ask here about numbering systems.
Does that seem right, fixing on "1,00,000". Or would the page be more relatable for its target audience, which is after all Indian investors (and not western ones), if it used "lakh" explicitly and consistently throughout?
Makes sense for me. I think this is the most unambiguous way for global and Indian investors to read. I had access as a wiki author but haven't used it in few years. I will see if I can edit it today evening.

Thanks for the non-resident alien investors page. Somehow I missed it.
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Re: Wiki - Investing from India

Post by TedSwippet »

So ... it's been a few weeks now since I or anybody else updated this page.

Investing from India

While it may not yet contain everything that everybody expects, do we think it is at least ready enough to move to the Main wiki and take its place among the other country-specific pages?

Outline of Non-US domiciles

Moving Investing from India to the Main wiki does not mean that nobody can continue to work on it. It remains just as editable there as it is now. But once part of the main wiki the page will be fully visible to all site visitors, so potentially open to improvement suggestions from a larger group of people.

Thoughts? My own view is to promote it to Main now, and any further polish or more substantial edits can follow. Otherwise things like this tend to become a bit forgotten, for months or even years ... and actually, it has already been getting on for two years. This page started life around the end of 2018.
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Re: Wiki - Investing from India

Post by LadyGeek »

I don't have the experience to review the content, but the overall page composition looks OK. If you think it's ready, then I agree to move it "live".
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Re: Wiki - Investing from India

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With no further comments, the page is now "live" in the wiki. See: Investing from India
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Re: Wiki - Investing from India

Post by TedSwippet »

LadyGeek wrote: Mon Sep 21, 2020 7:57 am With no further comments, the page is now "live" in the wiki. See: Investing from India
You beat me to the task! Looks good. Thanks.
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