Indian budget proposal retains indirect transfer tax rules but defers GAAR until 2015

February 2013


India's Finance Minister presented the Union Budget for 2013-2014 to Parliament today. As the government previously announced, the budget would defer the introduction of general anti-avoidance rules to April 1, 2015. In addition, the budget does not include changes or clarifications to the rules regarding the taxation of indirect transfers of Indian entities. The budget also contains proposals to tax share buybacks by unlisted Indian companies and to increase the scrutiny of Tax Residency Certificates.

Contact us

Tim Anson
ITS Co-leader
Tel: +1 (202) 414 1664

Rob DeGaudenzi
ITS Partner - NY Metro Market
Tel: +1 (646) 471 0645

Follow us