CBDT clarifies on indirect transfer provision applicability to offshore funds/ financial sector

Dec 21,2016

CBDT issues 19 FAQs on applicability and scope of indirect transfer provisions u/s 9(1) to offshore funds and financial services sector; Clarifies that  indirect transfer provisions will not apply to investors in nominee-distributor type structures, which are merely used to pool monies from investors where the conditions of Explanation 7 are prima fa...

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