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DOHA: The Doha Chapter of the Institute of Chartered Accountants of India (ICAI) organised a seminar on`NRI Taxation and FEMA – Practical Aspects’ on 28 February.

The event, held virtually, was attended by 125 people, including chapter members who are finance professionals from leading organisations and students and professionals from across the world.

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This was the first event organised by the new management committee of the Doha chapter. The event was also livestreamed on YouTube for the benefit professionals in other countries.

The event was attended by Azim Abbas, President of Indian Business & Professional Council (IBPC), who was introduced by Chapter Chairperson Nirlep Bhatt.

Azim Abbas said it was very important for Non-Resident Indians (NRIs) to know about the important provisions and intricacies of the taxation with its latest updates.

The keynote speaker of the event was Past President of ICAI and expert Ved Jain, who was introduced by Kishore Alex, a management committee member.

Jain explained the provisions of Income Tax and Foreign Exchange Management Act (FEMA) and the concept of ‘Residential Status’ and also the rules when an individual leaves India for work or stay abroad.

He talked about various types of bank accounts and legal requirements. He also spoke about Double Taxation Avoidance Agreement (DTAA) between Qatar and India, highlighting the special relations between two countries.

Management committee member Arun Somanath welcomed the audience. Chapter Treasurer Kamlesh Tibrewal conducted question and answer session.

The vote of thanks was offered by Chapter Secretary Vignesh Kalyanraman, who thanked members for their active participation and the sponsors for their invaluable support.