Processing...
Continue shopping Go to cart

India - Ruling on characterization of income from convertible debenture : a hybrid instrument

Country:
India
Author:
S. Sanghvi
Issue:
Derivatives & Financial Instruments, 2009 (Volume 11), No 2
Published:
1 April 2009
In the case of LMN India Limited, the Authority for Advance Ruling recently issued a ruling dealing with the characterization of income arising from a category of hybrid instruments known as "compulsorily convertible debentures", or CCDs. This article considers the ruling in LMN India, as well as the relevant provisions of the Income Tax Act, 1961 and the India-United States income tax treaty.
 
Order Article