Tag: capital gains

Foreign investors from Mauritius, Cyprus and Singapore have been on the receiving end of a number of notices for gains from investment in fully or compulsorily convertible debentures (CCDs) issued by Indian companies.CCDs, which are compulsorily converted into equity after a specified period, had gained popularity after the tax treaties of these regions with India were amended in 2017, with the aim of taxing capital gains on shares in India.“The tax authorities believe that capital gains accruing or arising to a tax resident is now taxable in India irrespective...