 "Illustration by Binay Sinha")
Sophisticated vehicles meant for the ultra-rich are facing issues with higher taxation, following changes in the Budget earlier this month. Alternative structures that are being explored could throw up challenges such as cumbersome compliance requirements, and disclosures, which may affect commercial confidentiality, say experts.
The increase in surcharge for earnings exceeding Rs 5 crore applies to trusts as well. Many alternative investment funds (AIFs) function as trusts. The new rules will, thus, require Category-III AIFs to pay up to 42.7 per cent of their income as tax, up from 35.9 per cent earlier.
An AIF is a pooled
The increase in surcharge for earnings exceeding Rs 5 crore applies to trusts as well. Many alternative investment funds (AIFs) function as trusts. The new rules will, thus, require Category-III AIFs to pay up to 42.7 per cent of their income as tax, up from 35.9 per cent earlier.
An AIF is a pooled
