The Finance Bill, 2017 had proposed a new Section 194IB to the Income Tax Act, 1961 (the "Act"), to provide that individuals and Hindu Undivided Families ("HUFs") paying rent of INR 50,000 (Indian Rup...
Published On: 01/12/2016
Practice Area: Private Equity, Venture Capital and Fund Investment, Private Client
Authors:
Ran Chakrabarti
Stuti Agarwal
Taking forward its Make in India initiative, on August 31, 2016, the Union Cabinet approved the scheme for grant of permanent residency status (“PRSâ€) with multiple entry to foreign investors, provided they fulfil certain conditions.
