Budget 2020: Here are a few hits and misses for overseas investors

There were no big-bang measures for foreign portfolio investors (FPIs) in the Budget. Here are a few hits and misses: 

HITS

Dividend distribution tax (DDT): The tax rate for dividend in the hands of FPIs will be 20 per cent, plus surcharge and cess. India's treaties with certain countries provide for a lower rate of tax on dividends, and FPIs may be able to lower their India tax bill if they are eligible to claim the treaty benefits and meet requirements under the domestic GAAR (General Anti-Avoidance Rules) and MLI (Multilateral Instruments), a framework that aims to prevent base erosion