'FPIs can opt corp route to avail lower surcharge'

CBDT chairman P C Mody on Wednesday ruled out giving relaxation to FPIs from the ambit of increased surcharge, saying that foreign investors have an option to convert into a corporate entity to avail of lower rates available to such category. He said the consideration for increasing surcharge on people earning above Rs 2 crore was that people who have the ability to pay should shell out more for nation building.

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