Businesses Seek Tax Relief Through India’s New Budget

Multinationals and business groups want India to provide tax relief in the upcoming budget and promote policies that reduce the risks of disputes and litigation.

One of their key demands is to get relief from a recent judgment that unsettled a long-held practice on tax treaties. The decision could reopen past cases on the issue, they said.

Foreign companies “are more concerned about the procedural hassles in the country rather than the larger aspect of doing business in India,” said Sriram Srinivasan, partner at Lakshmikumaran & Sridharan Attorneys.

For years, multinationals had applied the so-called Most Favored Nation Clause to ...