Govt looks to exempt foreign portfolio investors from higher taxes: Report

The Centre is likely to exempt foreign portfolio investors from an increase in taxes that was part of the Union Budget approved by Parliament but heavily criticised, a government official said on Thursday.

  The Budget provided for increased personal income taxes on those with annual income of more than Rs 2 crore ($283,045).   The official, who declined to be named, said the government will either issue a notification or an executive order, which could be later submitted to parliament for approval, to exempt the foreign.....

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