On 29 August 2016, the Indian Ministry of Finance issued a notification on the protocol to the tax treaty with Mauritius that recently entered into force ({News-2016-08-17/T/3- previous coverage}). The notification highlights the key provisions of the protocol concerning taxation in India, including:
- The source-based taxation of capital gains arising from alienation of shares acquired on or after 1 April 2017 in a company resident in India with effect from financial year 2017-18 - prior inv…