India says residency certificate not enough to claim tax treaty benefits
MUMBAI Feb 28 (Reuters) - India said a tax residency certificate was necessary but no longer enough to claim benefits under double taxation avoidance agreements, according to the Finance Bill tabled in the parliament on Thursday.
The amendment is sparking fears that tax authorities would have wider discretion to go after foreign investors who have usually benefitted from investing from countries such as Mauritius that have double-tax avoidance treaties with India.
The tax residency certificate "shall be necessary but not a sufficient condition for claiming any relief" under the double taxation agreements, according to the Finance Bill document. (Reporting by Abhishek Vishnoi; Writing by Rafael Nam; Editing by Gopakumar Warrier)
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