CA Sansaar
SEBI Seeks CBDT Clarity on Tax Liability of FPI Authorised Representatives
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SEBI has approached the Central Board of Direct Taxes (CBDT) to obtain clarity on the tax responsibilities of authorised representatives acting on behalf of Foreign Portfolio Investors (FPIs). The move comes amid growing concerns within the industry, as ambiguity around potential tax liabilities has made many professionals reluctant to take up such roles.
Market participants, including fund houses, have been seeking well-defined guidelines to understand the extent of obligations and risks involved. In response, SEBI is in discussions with the tax authorities to address these concerns and bring greater certainty to the regulatory framework at the earliest.
Market participants, including fund houses, have been seeking well-defined guidelines to understand the extent of obligations and risks involved. In response, SEBI is in discussions with the tax authorities to address these concerns and bring greater certainty to the regulatory framework at the earliest.
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