Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

FinMin to look into tax issues of FPIs: Das
September, 21st 2016

The finance ministry on Tuesday promised to look into some taxation issues raised by foreign portfolio investors (FPIs) and also certain suggestions made by them such as permitting them in short-term corporate paper.Some of these suggestions could be reflected in the Budget as well.

After a meeting with FPIs here, Economic Affairs Secretary Shaktikanta Das (pictured) said: “Suggestions both in terms of process simplification as well as some new suggestions have come ... some taxation issues were raised. The Department of Revenue also participated in the meeting so we will examine and look at the suggestions they have made.”

Sources said the finance ministry discussed the proposal to allow FPIs to invest in corporate paper with outstanding maturity of less than three years.

To attract sticky and long term foreign money, current rules don’t permit overseas investors to invest in ultra short-term or short-term debt. The minimum maturity requirement is set at three years and there has been demand by FPIs to lower the same, particularly in the corporate debt segment.

Also, the meeting discussed the possibility of tweaking the definition of broad-based funds. A fund has to have a minimum of 20 investors to qualify as broad-based fund in category-2 of the FPI regulations. One proposal mooted was to define broad-basing of funds on investment amount instead of compulsory requirement of minimum set of investors, sources said.

FPIs also request to fasten the process to obtain a PAN number to ease their entry into the Indian market, they said.

FPIs have also been demanding that tax issues relating to proposed India-Singapore double taxation avoidance agreement (DTAA) and General Anti-Avoidance Rule (GAAR) be resolved.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting