Business Today - - THE BUZZ -

In­di­rect trans­fer pro­vi­sions say that in­come from trans­fer of shares of a com­pany reg­is­tered out­side In­dia is tax­able in In­dia if the shares de­rive sub­stan­tial value from as­sets lo­cated in In­dia. The share or in­ter­est would be con­sid­ered to de­rive its sub­stan­tial value from as­sets (tan­gi­ble or in­tan­gi­ble) in In­dia if, on a spec­i­fied date, the value of the In­dian as­sets ex­ceeds ` 10 crore and is at least 50 per cent value of all as­sets owned by the en­tity

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