the international financial services centre

Finance Minister defends tax Ordinance, says it was needed to provide relief

by
Finance Minister defends tax Ordinance, says it was needed to provide relief

Finance Minister Nirmala Sitharaman on Saturday defended ordinance to amend the tax laws saying it was needed to provide immediate relief to taxpayers from statutory compliances in wake of Covid19 pandemic. “There was an urgent need to give relief to the taxpayers… amendments in the clauses was needed to extend compliance dates, waive or defer … Read more

Government proposes to cap surcharge on dividend income of FPIs that use trust structure at 15%

by
Government proposes to cap surcharge on dividend income of FPIs that use trust structure at 15%

New Delhi: India has proposed to cap the surcharge levied on the dividend income of foreign portfolio investors (FPIs) that use a trust structure at 15% against 25-37% charged now, offering them significant relief after the row that broke out over the so-called super-rich tax last year. FPIs that operate as trusts now face a … Read more