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Jul 15, 2019
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Government working on solution for FPIs facing higher surcharge
The government is considering some manner of relief for foreign portfolio investors (FPIs) from the super-rich surcharge levied in the budget that has pushed the marginal tax rate for those earning over Rs 5 crore to nearly 43 per cent. One of the options is a carve-out for FPIs that are organised as trusts but pool the savings of investors such as pension funds, retirement pools or those not so well-off. “Issue is being examined,” said a government official.
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