Income Tax Department

• 13 Apr 2024

On 12th April 2024, India's Income Tax Department addresses concerns on amended tax treaty with Mauritius, clarifying queries are premature.

• Income Tax Department clarifies concerns on amended India-Mauritius DTAA are premature.
• The revised protocol is yet to be ratified and notified under the Income-tax Act, 1961.
• Queries will be addressed once the protocol is in force.
• FPIs sell off equities worth Rs 8,027 crore amid concerns over US Fed's stance.
• Amended pact includes Principal Purpose Test, ensuring tax benefits only for genuine transactions.