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Akash Prakash: Tax trauma

Why a new CBDT directive will sound the death knell for the home-grown India-dedicated fund industry

Akash Prakash 

Akash Prakash I must state upfront that I am an interested party in the tax debate highlighted in this article. The Central Board of Direct Taxes (CBDT) issued a clarification on December 23, 2016, laying out under what circumstances foreign portfolio investors (FPIs) are impacted by the indirect transfer provisions (effectively the Vodafone case). The clarification says that if an FPI has more than 50 per cent of its assets in India, with a value greater than Rs 10 crore, then any investor with a greater than five per cent interest in or contribution to the assets under management (AUM) of the FPI will ...

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Akash Prakash: Tax trauma

Why a new CBDT directive will sound the death knell for the home-grown India-dedicated fund industry

Why a new CBDT directive will sound the death knell for the home-grown India-dedicated fund industry I must state upfront that I am an interested party in the tax debate highlighted in this article. The Central Board of Direct Taxes (CBDT) issued a clarification on December 23, 2016, laying out under what circumstances foreign portfolio investors (FPIs) are impacted by the indirect transfer provisions (effectively the Vodafone case). The clarification says that if an FPI has more than 50 per cent of its assets in India, with a value greater than Rs 10 crore, then any investor with a greater than five per cent interest in or contribution to the assets under management (AUM) of the FPI will ... image
Business Standard
177 22

Akash Prakash: Tax trauma

Why a new CBDT directive will sound the death knell for the home-grown India-dedicated fund industry

I must state upfront that I am an interested party in the tax debate highlighted in this article. The Central Board of Direct Taxes (CBDT) issued a clarification on December 23, 2016, laying out under what circumstances foreign portfolio investors (FPIs) are impacted by the indirect transfer provisions (effectively the Vodafone case). The clarification says that if an FPI has more than 50 per cent of its assets in India, with a value greater than Rs 10 crore, then any investor with a greater than five per cent interest in or contribution to the assets under management (AUM) of the FPI will ...

image
Business Standard
177 22