18-February-2019
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Taxation
 
Taxman target indirect investments in overseas companies
11-Feb-2019

Many well-heeled Indians who own stocks and properties abroad or are beneficiaries of offshore trusts may come under the glare of the income tax (I-T) department for failing to spell out their ‘indirect investments’. Indirect investments are the next level investments — or, holdings in other overseas companies — by the entity in which the resident Indian is a stakeholder. Consider an individual holding 15% equity interest in an unlisted offshore firm (A) in Dubai, which in turn is a shareholder in three US companies (B, C and D).

News Source:- https://economictimes.indiatimes.com/news/politics-and-nation/taxman-target-indirect-investments-in-overseas-companies/articleshow/67935910.cms