Taxation Bill passed to provide relief to taxpayers. Key changes to know

“Capping surcharge was required after the abolition of DDT in the Finance Act, 2020 and there was an ambiguity while computing advance tax on the extent of surcharge payable by FPIs. This amendment is to augur the promotion of investment funds in IFSC and hence, the AIFs with PEs in India have been sidelined for this benefit,” said Divakar Vijayasarathy, Founder and Managing Partner, DVS Advisors LLP.