Punit Shah News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Here's how the coming of AI, the end of third-party cookies, the arrival of RCS and the expansion of OTT opportunities are going to change texting forever.

India has signed a protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius to plug treaty abuse for tax evasion or avoidance.

​There is another provision like principal purpose test or MLI which further requires that the FPIs or any other investors which are based in Mauritius need to have a commercial rationale or a justification to be organised or to be based in Mauritius.

India and Mauritius have agreed to a protocol to alter a double taxation avoidance agreement (DTAA) stating that tax relief cannot be for the indirect benefit of residents of another country. As a result, all FPIs will have to examine whether they have enough commercial rationale to be based in Mauritius when the tax scrutiny happens.

The clarification follows concerns by tax experts over the agreement opening past investments to scrutiny from tax authorities at the time of exit following the protocol, which was inked on March 7. A key concern expressed by experts is about reopening of past cases in view of the amended provision.