India Passes Finance Bill for 2013-14: Updates from International Tax Consulting Team

The Indian parliament cleared the Finance Bill on April 30, 2013. It has issued a clarification regarding Tax Residency Certificates (TRC) issued by a foreign government.
 
May 6, 2013 - PRLog -- In the Finance Act, 2012, the government made it obligatory for taxpayers to provide TRC for obtaining benefits under the DTAAs. However, the Finance Bill 2013 was seeking to amend this provision by making the TRC not an adequate condition for claiming benefits under DTAAs. This had caused alarm to the non-resident taxpayers. However the issue has been clarified now.

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