India postpones anti-avoidance rules, cuts capital gains tax for PE
India has postponed the implementation of anti-avoidance legislation, which impacts the tax treatment of offshore structures used to channel capital into the country, and reduced the tax rate on capital gains arising from private equity transactions. Long-term gains on the sale of unlisted securities by PE investors will be subject to a 10% levy, down from 20%.
The Finance Bill, announced on Monday, has effectively granted offshore investors a one-year grace period to adapt to the General Anti-Avoidance Rule (GAAR). Under the rule, transactions would be presumed...
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