Deductibility of Withholding tax

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..... Deductibility of Withholding tax
Query (Issue) Started By: - anil kalia Dated:- 2-8-2008 Last Reply Date:- 2-8-2008 Income Tax
Got 1 Reply
Income Tax
FACTS OF THE CASE : 1. A , B, C and D .....

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..... are NRI and have invested in the shares of a PVT Ltd company in India through transfer of funds from abroad. The company has allotted them shares and filled FC-GPR Form with RBI with in 30 days of th .....

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..... e allotment of shares. The RBI has issued letter confirming having taken on record the investment of the NRI shareholders to be on repatriation basis. 2. Now A , B and C has sold there shares to D abr .....

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..... oad and taken payament abroad. A has made profit of Rs.10 lacs in the deal, whereas B and C has sold shares at there cost. Please confirm whether D another NRI was liable to deduct withholding tax (TD .....

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..... S). Reply By Surender Gupta: The Reply: Please go through the following ruling: 2007 -TMI - 2381 - AUTHORITY FOR ADVANCE RULINGS (In Income Tax Section - Case Laws on this site)
Discussion Forum .....

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..... - Knowledge Sharing .....

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