Moneycontrol
Mar 30, 2012 05:38 PM IST | Source: CNBC-TV18

Govt intent to not tax P-note holders comforting: Experts

Ketan Dalal, Joint Tax Leader, PwC and Aliff Fazelbhoy, Partner - Tax, M&A and Employment, ALMT Legal think that the FM’s clarification that there will not be double taxation of both the FIIs and the P-Note holder. But it still remain unclear on the extent and the geographical limit of taxing the FIIs.


Clearing the air on the P-note issue, Finance Minister Pranab Mukherjee on Friday said that holders of participatory notes will have no tax liability and a clarification on these notes will be issued in due course.

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