The government on Wednesday cleared the revised double taxation avoidance agreement (DTAA) with Cyprus which will allow India to tax capital gains from April 1, 2017, reports CNBC-TV18‘s Sapna Das. Under the terms of the revised India-Cyprus DTAA treaty, investments till March 2017 will be grandfathered.
The Supreme Court has agreed to hear the petition. It has also given a notice to the government to give clarity on its position to make such decisions with respect to the DTAA.