https://www.taxtmi.com/article/detailed?id=7252 Clarification narrows the indirect transfer rule by excluding investments in regulated Category I and Category II foreign portfolio investors from being treated as assets situated in India, with the amendment framed as clarificatory and applied retrospectively. Related changes modify the offshore fund eligibility by waiving the corpus monthly average requirement in a winding up year, propose an exemption for foreign company income from sale of leftover crude stock subject to notified conditions, and require terms defined in bilateral tax agreements to control over domestic statutory definitions where the agreement furnishes a definition. en-us Thu, 02 Feb 2017 10:19:18 +0530 Thu, 02 Feb 2017 10:19:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7252 Clarification narrows the indirect transfer rule by excluding investments in regulated Category I and Category II foreign portfolio investors from being treated as assets situated in India, with the amendment framed as clarificatory and applied retrospectively. Related changes modify the offshore fund eligibility by waiving the corpus monthly average requirement in a winding up year, propose an exemption for foreign company income from sale of leftover crude stock subject to notified conditions, and require terms defined in bilateral tax agreements to control over domestic statutory definitions where the agreement furnishes a definition. Articles Budget - Tax Proposals Thu, 02 Feb 2017 10:19:18 +0530 https://www.taxtmi.com/article/detailed?id=7252