Day after, govt clarifies Budget's Mauritius tax rule; markets rise

A day after stock markets were spooked by a clause in the Budget that was interpreted as making the income of investors using the Mauritius route taxable, the finance ministry issued a clarification to allay fears. The ministry on Friday said an investor from Mauritius putting money in Indian markets needed to only produce a tax residency certificate (TRC) to claim the benefit of the double taxation avoidance agreement.

Read Full Story>>