sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Direct Tax »
 Taking the 1st five steps to saving taxes Income Tax
 TDS on interest income: Want to avoid? Here’s how you can do this
 CBDT to modify advance ruling forms for transparency in cross-border deals
 New ITR forms for 2018-19 notified by CBDT
 Income Tax Return form: There are many changes you need to know
 Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
 Income tax return forms for FY 2017-18 released
 10 benefits of filing ITR even if you are below taxable bracket
 How to file Income Tax Returns online in five simple steps
 Income tax returns (ITR) deadline over; how belated returns filing will impact you
 Five tax changes that come into effect from today

Tax residency certificates will do fine until GAAR
March, 02nd 2013

Mauritius-bases foreign institutional investors (FIIs) who have provided tax residency certificates (TRC) from the island nation do not face the threat of having to pay capital gains tax if they sell the listed securities they hold in India before the introduction of the General Anti-Avoidance Rules (GAAR), going by a clarification issued by finance minister Chidambaram on Friday afternoon. Once GAAR takes effect in April 2016, sale of FII investments made in listed securities in India after August 2010 will be subject to the rigorous anti-avoidance rules, even if TRCs are provided and are accepted as proof of tax residence. FII investments made prior to August 2010 will not be subject to GAAR for denial of zero capital gains tax, a benefit under the India-Mauritius double tax avoidance treaty.
Chidambaram clarified that the proposed introduction of a clause in the Income Tax Act saying TRC is “essential but not sufficient” for investors to avail of benefits under DTAA does not mean these certificates would be questioned.

Market players had pointed out that the language in the proposed sub-clause could mean that the TRC could be questioned by the Indian tax department. “The government wishes to make it clear that that is not the intention of the proposed sub-section (5) of Section 90,” the minister said in a clarification.

“TRC produced by a resident of a contracting state will be accepted as evidence that he is a resident of that contracting state and the Income Tax Authorities in India will not go behind
- See more at

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions