Tuesday, 3 January 2017

Sensex recovers, Nifty inches towards 8200

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According to Ripples Advisory Private Limited, the CBDT circular regarding tax norms for FIIs is absurd. “we don’t think the government understands the CBDT’s circular.” While the FIIs were never against paying taxes, the clarity around procedures and the amount involved are a big concerns. Certain tax changes could hamper foreign portfolio investors (FPIs) as the Central Board of Direct Taxes (CBDT) has issued clarification on applicability of indirect transfer provisions. 

Under the indirect transfer provisions contained in Section 9 (1Xi) of the Income Tax Act, all income arising from any asset or source of income in India or through the transfer of a capital asset situated in India, shall be deemed to accrue or arise in India.

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