2024 is marked by India’s ambitious Union Budget, a significant Chinese stimulus package, and notable market dynamics. Domestic Institutional Investors stabilized the market amid foreign outflows, while the IPO surge and SIP growth reflected strong retail investor confidence. Key stocks exhibited significant price fluctuations due to sectoral shifts and global economic conditions.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would