This limitation on third-party countries will be a concern, along with the new requirement to demonstrate that tax relief is not one of the principal purposes of the investment, said experts.
Foreign investors entering India via Mauritius are set to face greater scrutiny of their investments, with the two countries inking a protocol to amend their double-taxation avoidance agreement.
Advance tax collections in the first half of the fiscal year 2023-24 have increased by 20% compared to the previous year, reaching ₹3.54 lakh crore. These collections are expected to further increase as more information is received from banks. Robust advance tax numbers indicate a strong economy and healthy corporate performance. The government is likely to release official data next week.
India is planning to tax the winners in online gaming qz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from qz.com Daily Mail and Mail on Sunday newspapers.