The Indian tax department’s aggressive stance on tax residency certificates (TRCs) has evoked fresh concerns among offshore investors. In a case pertaining to Blackstone Partners that came up for hearing in the Supreme Court last week, additional solicitor general (ASG) N. Venkataraman expressed concerns that the Delhi High Court (HC) verdict in the matter could potentially set a precedent and, hence, must be stayed.
The Delhi HC had ruled in favour of Blackstone, saying TRCs were sufficient for availing benefits from double tax avoidance agreements (DTAAs). The revenue department challenged the verdict in the apex court, which stayed the order on Friday. The case will soon come up for final judgement.
A TRC is a document issued by the tax department to non-resident investors that mentions the jurisdiction where the fund is based out of, and acts like a proof for availing DTAA benefits.
هذه القصة مأخوذة من طبعة January 18, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة January 18, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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