FPIs, foreign VCs pin hopes on tax residency proof to avoid hit - Business News: Latest Share Market , Economy & Finance News | Trendmergers

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FPIs, foreign VCs pin hopes on tax residency proof to avoid hit

The adequacy of TRC has often been questioned by the Income tax (I-T) department on the grounds that investing entities were mere dummies set up for treaty shopping and deriving tax benefit while actual control lay with holding companies and investors in other locations which do not qualify for tax exemption.

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