๐ผ India reworks tax treaties to secure capital gains tax
Finance Minister Nirmala Sitharaman announced that India has renegotiated its tax treaties with Mauritius, Singapore, and Cyprus. These changes aim to restore India's right to tax capital gains generated from investments within the country. Previously, certain investors from these jurisdictions could avoid Indian tax on share sales. The treaty with Mauritius was amended via a 2016 protocol, shifting taxation to India for gains after April 1, 2017. These updates tackle concerns about treaty misuse and strengthen India's overall tax base. ๐