The clarification was issued in partial modification of instructions issued earlier amid confusion prevailing over registration of such properties in the wake of the LRS being implemented by the State government recently.
The commissioner of income tax (exemption) (CIT-E) had threatened to upend the decades-old ownership of Tata Sons by the trusts by alleging that such shareholdings are in violation of the income tax laws.
The report added that FDI outflows from South and South-West Asia increased for the fourth consecutive year, modestly growing from $14.8 billion in 2018 to $15.1 billion in 2019.
Subbarao said the second positive aspect he sees is India's federalism, which, "warts and all", has withstood the test of vigorous democracy though there were tensions between the Centre and the states on some issues such as GST compensation.
Nikki, who came across as a loudmouth, couldn't fight much with Rakhi Sawant, who was seen using crass language and slut-shaming her for sitting with fellow contestants.