Surcharge On FPIs: FM Refuses To Clarify
  • WebDesk BTVI
  • Jul 08 2019

There are concerns that the increased surcharge on super-rich could also affect foreign funds investing in India since same tax structures apply for individuals, HUFs and Associations of Persons (AOPs). FM Sitharaman in 2019-20 Budget tabled in Parliament last week proposed to increase surcharge from 15 per cent to 25% on taxable income between Rs 2-5 cr, and from 15% to 37% for income above Rs 5 crore. However, FM Nirmala Sithraman refuses to clarify today in the press conference.