CBDT grandfathers treaty benefits with Mauritius, Cyprus, Singapore

The Central Board of Direct Taxes (CBDT) has issued a new guidance note on the Principal Purpose Test (PPT) for claiming tax treaty benefits, which will be applied prospectively. The grandfathering provisions under the India-Cyprus, India-Mauritius, and India-Singapore DTAAs remain unaffected by this new PPT provision and will continue to be governed by the specific provisions in their respective treaties.

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Tzeac9Z