GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore. The finance ministry sent positive signals to foreign portfolio investors on Friday by clarifying that the general anti-avoidance rules (GAAR, on taxes) will not override tax treaties with suitable limitation of benefit (LoB) clauses, but which had certain grey areas to interpret. Experts said it would have been better if these clarifications could have come earlier, as it takes ... Rediff.com, 3 weeks ago
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai. Abolishing the tax on short-term capital gains may provide a boost to capital markets and, in turn, help attract investment. Photograph: PTI Photo. Foreign institutional investors (FIIs) have written to the finance ministry and the Securities and Exchange Board of India (Sebi) demanding that short-term capital gains be scrapped. Instead, the FIIs want ...Rediff.com, 2 months ago
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