The Reserve Bank of India (RBI) has come up with a draft rule with modifications in the existing regulation related to foreign investment to discourage round-tripping. The central bank is looking to tweak the existing regulations and has come up with draft rules around round-tripping. Some of the largest Indian companies, startups and multinationals with an India presence have put their outbound investment, fundraising and restructuring plans on hold as the RBI looks to introduce fresh regulations around “round-tripping.”
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
According to the draft rule, any investment made outside India is an entity, in turn, invests in India will be treated as round-tripping if the purpose is to escape tax. This is as the same definition and rationale used by the tax department under General Anti Avoidance Rule (GAAR) which companies have been complaining is quite broad in its scope.
The Gujarat celebrates the its Foundation Day on the May 1st every year after the…
The International Labour Day which is also known as May Day will be observed on…
Books have always shaped the way people think and understand the world. Some books are…
India is famous all over the world as the land of spices. Different places in…
The US Federal Reserve has kept the interest rates unchanged at 3.50% to 3.75% in…
The Bengaluru Police has launched the AI-powered multilingual feature in the Namma 112 emergency helpline…