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ARTICLE · 24 MARCH 2017

Key Amendments To The Finance Bill, 2017

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The Finance Bill, 2017 which was presented by the Finance Minister in the Indian Parliament on 1 February 2017 (Original Bill) has been amended by the Lok Sabha (Amended Bill).

IndiaTax
Bijal Ajinkya
Bijal Ajinkya
Vinita Krishnan
Vinita Krishnan
Raghav Bajaj
Raghav Bajaj
Maulika Hegde
Maulika Hegde
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The Finance Bill, 2017 which was presented by the Finance Minister in the Indian Parliament on 1 February 2017 (Original Bill) has been amended by the Lok Sabha (Amended Bill). This Ergo provides a snapshot of some of the key amendments sought to be made on the income-tax front.

Relief to non-residents investing in Foreign Portfolio Investors (FPIs) from tax on indirect transfer of Indian assets

Currently, an offshore transfer of shares or interest in a foreign company or entity triggers capital gains tax in India (subject to certain exemptions) in the hands of the non-resident transferor, where such share or interest derives "substantial value" from assets situated in India.

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