#pnotes

Investment in P-notes rises to Rs 84,647 crore by August-end

The decline in investment could be attributed to several measures taken by the market watchdog to stop the misuse of the controversy-ridden participatory notes. (Reuters)

Investments in the Indian capital market through participatory notes climbed to Rs 84,647 crore till August-end, making it the first rise in such fund infusion in 10 months. Participatory notes (P-notes) are issued by…

International tax wing of I-T Dept seeks end beneficiary details of P-notes

[ad_1] Tax dept examining discrepancies in the disclosures made by ODI issuers The international taxation arm of the income tax (I-T) department has sought details of end beneficiary subscribers of participatory notes (P-notes) from some leading offshore derivative instrument (ODI) issuers in the country.  According to a senior tax official,…

P-Notes make a comeback under GAAR

Mumbai: Participatory notes (P-Notes), long vilified for the anonymous nature of their investors and suspected as a route for money laundering, are seeing rising interest among short-term foreign investors as the general anti-tax avoidance rule (GAAR) became applicable from 1 April. Foreign portfolio investors, especially those from countries which don’t have any tax treaties, typically route…

Govt cracks down on misuse of P-Notes

[ad_1] 600 cases of violation identified, information sought from 200 issuers Fears of P-Notes (participatory notes) being misused have surfaced again despite the tightening of the framework in which they operate. According to government sources, around 600 P-Note subscribers could be in violation of the framework issued by the Securities and…