In a relief to FPIs who were fearing multiple taxation, the tax department kept in abeyance its recent circular on indirect transfer of shares by foreign investors. The Central Board of Direct Taxes (CBDT) on December 21, 2016, came out with a notification giving 19 illustrations with regard to how the indirect transfer regulations would kick in and the tax impact.  Amit Agarwal, Partner shares his views on aforementioned story for following publications:
  1. Business Standard
  2. DNA
  3. Deccan Chronicle
  4. Financial Chronicle
  5. BloombergQunit
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