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India: FAQs on proposed long-term capital gains tax measures

India: FAQs on proposed long-term capital gains tax

The KPMG member firm in India has prepared reports about the following tax developments (read more at the hyperlinks provided below).

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  • No tax withholding on salary paid to non-resident employees, working outside India: The Authority for Advance Rulings (AAR) found the salary received by an employee qualifying as a non-resident with respect to employment outside India, accrued outside India. Accordingly, the salary was not taxable in India and the Indian employer would not be required to withhold tax at source in India. The AAR further noted that the foreign tax credit may be considered at the withholding stage by the Indian employer when determining the withholding tax on salary income for employees who qualify as residents in India. The case is: Texas Instruments (India) Pvt. Ltd. Read a February 2018 report [PDF 561 KB]

  • FAQs on long-term capital gains tax: The Central Board of Direct Taxes issued a set of 24 “frequently asked questions” (FAQs) on various issues relating to a new regime for taxation of long-term capital gains, as proposed in the Finance Bill 2018. Read a February 2018 report [PDF 482 KB]

  • Applicability of deemed dividend provisions: An issue of applicability of deemed dividend provisions has been referred to the larger bench of the Supreme Court of India. The case is: National Travel Services. Read a February 2018 report [PDF 554 KB]

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