23 September 2016 India's Authority of Advance Rulings grants capital gains tax exemption under India-Mauritius Treaty Shinsei Investment Ltd. (the Taxpayer), a Mauritian Company, requested a ruling from the Authority of Advance Rulings (AAR) on the application of a capital gains exemption under the India-Mauritius Income Tax Treaty (the Treaty) on a transfer of shares of Indian companies. The AAR favorably ruled that the Taxpayer was eligible for the capital gains exemption under the Treaty. In addition, because of the exemption, the Taxpayer was neither required to file an income tax return of income in India nor was it subject to the minimum alternate tax (MAT) provision under the Indian Tax Laws (ITL). A Tax Alert prepared by EY's Global Tax Desk Network, and attached below, provides additional details. Document ID: 2016-1612 |
