Tax avoidance treaties: India sets new norms for claiming benefits
The income tax department has come out with a fresh guidance note on the applicability of the Principal Purpose Test (PPT) for claiming tax treaty benefits, which will apply prospectively. The Central Board of Direct Taxes (CBDT) in its guidance note on PPT also clarified that the grandfathering provisions under the India-Cyprus DTAA, India-Mauritius DTAA […]