The government has cut the long-term capital gain tax from 20% to 10% on investments made by PE funds into shares of unlisted companies. Currently, long-term capital gains arising from sale of unlisted securities in the case of FIIs are taxed at the rate of 10%, while other non-resident investors, including PE investors, are taxed at the rate of 20%. For listed securities, however, there is no tax on long term capital gains.
Refund is an integral part of Goods and Service Tax law since it is the government reimbursement of taxes to a taxpayer. Thus, the taxpayer as well as the refund authorities have to be fully ac More
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