With a possible inheritance tax around the corner, trusts are back in favour, especially when it comes to wealth management and succession planning, reports CNBC-TV18‘s Ashmit Kumar.
Pranav Sayta, tax partner, E&Y told CNBC-TV18 that the modifications and deferred applicability to GAAR come as a big relief and adds that assesees could approach the tax authority to determine in advance whether a structure on arrangement would be permissible.
After a lacklustre Budget, the government has dealt another body blow to the market in the form of new General Anti-Avoidance Rules. Pranav Sayta, partner, Ernst & Young says all this is likely to change, making Mauritius an even more doubtful destination for treaty benefits.
In a landmark ruling, the Supreme Court's ruling favoured India's second largest telecom operator Vodafone with regards to overseas transactions.