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For Mutual Fund NRI investors, this is a significant positive that you should note
Now, Capital Gains on MF Units can't be taxed in India under the tax treaties with specific countries like Singapore, UAE, Mauritius Netherlands etc.
This is an article in TOI, where the ITAT has passed this Order and hence no tax is payable in India for this Singapore resident on her short term and long term capital gain both from debt and equity mutual funds. It is taxable only in the country of residence (Singapore in this case)
Significant Positive for NRI MF investors!
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