P-notes may take hit on new tax treaties
Friday, March 24, 2017, 7:09 AM
With the new tax treaty with Singapore and Mauritius coming into effect from April 1. According to SEBI data, nearly 90 % of P-note investments are routed through Singapore and Mauritius, with which the Indian government has reworked tax arrangements. According to the changed DTAAs, all investments made from these jurisdictions would attract short-term capital gains as the exemptions would get removed.