THE RULE
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