Trusts
¨Characterisation of the trust ¤When a trust has only NRI beneficiaries ¤When a trust has a mix of Indian and NRI Beneficiaries
¨Tax Implications ¤Treatment of income under the Indian Income Tax Act, 1961 ¤Applicability and benefit of tax treaties that can be availed ¤Estate Tax Implications for the NRIs
¨Restriction on Asset classes ¤Sectoral Caps applicable for certain industries viz: Insurance, Defence, etc. ¤NRIs are not permitted to purchase plantations and agricultural land
¨Tax Implications ¤Treatment of income under the Indian Income Tax Act, 1961 ¤Applicability and benefit of tax treaties that can be availed ¤Estate Tax Implications for the NRIs
¨Restriction on Asset classes ¤Sectoral Caps applicable for certain industries viz: Insurance, Defence, etc. ¤NRIs are not permitted to purchase plantations and agricultural land