MARKET TAKES MAURITIUS TAX AGREEMENT IN ITS STRIDE

Fears of removal of tax benefits on investments from Mauritius adversely affecting Dalal Street remained unfounded on Wednesday. The BSE Sensex, after dropping 360 points on opening, or 1.4 per cent, recouped most of its losses to settle 175 points, or 0.7 per cent, lower at 25,597. Experts said the stock market took the development in its stride because of prudent implementation by the government. Legal experts welcomed the government’s decision to apply the tax a year down the line and the concessional tax rate for the next two financial years. “These ...