Amendments Made To The Finance Bill

Union Budget 2017-18 was presented by the Finance Minister in the Parliament of India on 1 February 2017. The Finance Minister subsequently proposed certain amendments to the Finance Bill and the amended Finance Bill has received the President's assent on 31 March 2017. The amendments made to the Finance Bill are given below.

Clarifications regarding capital gains on indirect transfer provisions for non-resident investors

• The original Finance Bill proposed to insert an explanation stating that non-resident investors holding an asset in Category I or Category II Foreign Portfolio Investors (FPI) will not be subject to tax in India under the 'indirect transfer' provisions. This amendment was proposed retrospectively from Financial Year (FY) 2011-12 onwards.