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However, the Ministry did not throw clarify whether TRC is a sufficient condition or not for availing tax benefit under the treaty between India and Mauritius.
The clarification from the ministry comes after the government created confusion with a proposal on Thurday stating a tax residency certificate "shall be necessary but not a sufficient condition" to take advantage of double taxation avoidance agreements.
Concern expressed by market players in this regard is likely to be addressed suitably when Finance Bill is taken up for discussion.
(Reuters also contributed to this story)
