Foreign investors could register as companies to get tax relief: Nirmala Sitharaman

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NEW DELHI – Indian Finance Minister Nirmala Sitharaman said on Thursday that foreign portfolio investors (FPIs) could register as companies to avoid a new tax surcharge imposed on individual tax payers as well as trusts in the budget for the fiscal year that began on April 1.

Sitharaman increased taxes on anyone earning an annual incomes of more than 20 million rupees ($292,269) that will also cover trusts.