The Income Tax department had sent queries to these offshore entities asking why their dividend incomes should not be taxed. Foreign funds, which were unable to demonstrate ‘commercial substance’ to it, have been denied the tax treaty benefit. An entity is said to fulfil commercial substance requirements, if it has an office, working staff, cash flows and management there.
Warren Buffett turns 96: Top 10 investing lessons from the Oracle of Omaha
As Warren Buffett turns 96 in his first birthday since stepping down as Berkshire Hathaway’s CEO, the piece revisits the investing principles behind his six-decade