Homevideos Newsfinance News

    Expert discuss tax setback for large Indian company

    videos | IST

    Expert discuss tax setback for large Indian company

    In a significant ruling, the Mumbai bench of the Authority for Advance Rulings (AAR) has rejected tax benefits for a large transaction by an Indian company under the India-Mauritius Double Taxation Avoidance Agreement.
    The transaction involved Mauritius entities and the Indian company was seeking exemption of capital gains on the sale of shares. Arun Giri of Taxsutra tells us about this ruling and explain to us why this is significant.
    Giri said, "It is important as it involves a large Indian group. This was a mega-deal that happened a few years ago. A large Indian group sold its shares in an Indian company via the Mauritius route. Then the company went to the authority for a relief claiming Mauritius treaty. At the time of the deal, this exemption was available.”
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All