Are DTAA benefits applicable to MFs?
9 months ago

Are DTAA benefits applicable to MFs?

Live Mint  

I read that UAE-based NRIs are able to claim taxation exemption on mutual fund investments made in India. The exemption from tax on capital gains upon sale of mutual fund units is provided by the residual clause under article 13, viz. Similarly, exemption granted under article 13 is not tied to the source of investment made in mutual funds, rather it is linked to the residence of the seller. The capital gains from the sale of mutual funds would be exempt irrespective of the source of funds for investment, i.e. However, since the investment in mutual funds was made on a non-repatriation basis, you will not be able to repatriate the sale proceeds outside India.

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History of this topic

Can I take benefit of India-UAE DTAA?
6 months, 1 week ago

Can I take benefit of India-UAE DTAA?

Live Mint  

I am based in the UAE and have sold mutual funds and listed shares over the past year with gains of about ₹ 16 lakh. The first change lowered the threshold for Indian citizens staying outside India and coming to India on a visit, to qualify as non-residents, if their Indian income exceeds ₹15 lakh. The second change targets Indian …

Can an Australian NRI get exemption on capital gains?
6 months, 2 weeks ago

Can an Australian NRI get exemption on capital gains?

Live Mint  

I live in Australia with my family. The Finance Act 2023 made certain amendments in lieu of which capital gains on sale of debt mutual funds are deemed to be treated as short-term capital gains irrespective of the period of holding. Under the India-UAE double taxation avoidance agreement, mutual fund units qualify as ‘property’ not described under other paragraphs of …

Why NRIs in UAE enjoy tax benefits on MF investments
10 months, 1 week ago

Why NRIs in UAE enjoy tax benefits on MF investments

Live Mint  

The going has always been good for non-resident Indians, particularly those based out of the United Arab Emirates. Two, they can also take advantage of a double taxation avoidance agreement signed between the UAE and India, and thus avoid capital gains taxes on investments made here, say financial experts. But an NRI from the Emirates is exempt from paying any …

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