This content is from: India

India: High Court rules CCDs are exempt under India-Mauritius DTAA

The Delhi High Court has decided, in Zaheer Mauritius vs Director of Income Tax, that the sale of compulsory convertible debentures (CCDs) should be classified as capital gains and exempt under the India-Mauritius double tax treaty (DTT). The decision will mean most to real-estate taxpayers who use Mauritius to invest in India.

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