Global

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  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 8/15/2012

India - Capital gains not taxable under tax treaty with Sri Lanka 

August 15:   The KPMG member firm in India has prepared a report on the following development (read the August 2012 report, by clicking on the hyperlink provided below):
  • Capital gains from sale of shares of Sri Lankan company not taxable in India under income tax treaty provisions: The Chennai Bench of the Income-tax Appellate Tribunal held that an Indian taxpayer’s capital gains arising from the sale of shares of a Sri Lankan hotel company were not taxable in India under Article 13(4) of the India-Sri Lanka income tax treaty.

    The case is: Apollo Hospital Enterprises Ltd. Read an August 2012 report [PDF 208 KB]



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