CBDT : Relaxes indirect transfer provisions on investment funds' multi-tier structures to avoid double taxation

Nov 08,2017

CBDT addresses concerns raised by private equity and venture capital funds that non-resident funds set-up as multi-tier investment structures suffer multiple taxation upon subsequent redemption or buyback; CBDT issues Circular No 28 of 2017 on applicability of indirect transfer provisions in case of redemption of share or interest outside India through upstream entities; CBDT states that, the provisions of section 9(1)(i)  read with Explanation 5 shall not ap...

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