Follow Us :

Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, 17th January, 2017.

PRESS RELEASE

Clarification on Indirect Transfer provision under the Income Tax Act, 1961

Circular No. 41/2016 was issued on 21.12.2016 which dealt with clarification on Indirect Transfer provisions. After the issue of the aforementioned circular, representations have been received from various FPIs, FIIs, VCFs and other stakeholders. The stakeholders have presented their concerns stating that the circular does not address the issue of possible multiple taxation of the same income. The representations made by the stakeholders are currently under consideration and examination. Pending a decision in the matter the operation of the above mentioned circular is kept in abeyance for the time being.

(Dr. Binod Kumar Sinha)
Commissioner of Income Tax
(Media & Technical Policy)
& Official Spokesperson, CBDT

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Post by Date
June 2024
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930