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    <title>Taxation of Portfolio Investments referred to GAAR Committee</title>
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    <description>Taxation of portfolio investments under the amended transfer provisions raises a question concerning the tax liability of non-resident portfolio investors, including Foreign Institutional Investors, for investments made through a registered stock exchange under SEBI guidelines and held purely as portfolio investments; clarification must be harmonised with GAAR guidelines and address residual concerns outside GAAR.</description>
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