The Central Board of Direct Taxation (CBDT) on Wednesday issued clarification on Indirect Transfer provisions in respect to circular no. 41/2016, which was issued on December 21, 2016.
After the issue of the aforementioned circular, representations have been received from various FPIs, FIIs, VCFs and other stakeholders.
The stakeholders have presented their concerns stating that the circular does not address the issue of possible multiple taxation of the same income.
The representations made by the stakeholders are currently under consideration and examination.
Pending a decision in the matter the operation of the above mentioned circular is kept in abeyance fourth time being.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app