Government Examining Issue Of FPIs Coming Under Purview Of Increased Surcharge On High Income Earners

The government is examining the issue of foreign portfolio investors (FPIs) coming under the purview of increased surcharge on high-income earners, CBDT (Central Board of Direct Taxes) chairman, P.C. Mody said at an ASSOCHAM event yesterday. The matter is under examination and very soon we are going to come out with a clarification on that, he noted at a Post-Budget Conference organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). The concerns on increased tax burden is on the back of increased surcharge on LTCG and STCG for those who fall in the income bracket of Rs 2-5 crore and higher annually, as proposed in the budget.

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