Pre-Budget recommendations on offshore funds

11-Jan-2015 #Globalwealth Source: Financial Express

Fund managers of foreign investors (such as FPIs, FVCIs, etc.) remain outside India under the apprehension that their presence in India may have adverse tax consequences. Recently a clarification was issued to Foreign Portfolio Investors (FPIs) that fund managers of FPIs who are present in India would not be treated as permanent establishments in India. However further clarifications if given would encourage such firms to set up offices in India.

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