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A Tax Question Stands Between India And Its Long-Sought After Global Bond Index Listing
Finance Ministry and Euroclear are discussing the applicability of capital gains tax on bond transactions settled overseas.
10 Jun 2021, 07:50 AM IST
Since at least 2014, India has aspired to become part of the global bond indices. Along the way, a number of issues cropped up.First, India had too many restrictions on overseas flows into local bonds. There were caps on overall inflows and separate limits across different categories. The RBI, not willing to lift the overall cap, found a work-around and opened up certain securities fully to foreign investors. That earned India a more...
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