Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

CAPITAL GAINS - Income deemed to accrue or arise in India - BUDGET 2015

Tax in General + Budget + Finance Acts - By: - CS Swati Dodhi - Dated:- 3-3-2015 - CAPITAL GAINS Provisions for Indirect transfers The Explanation 5 in section 9(1)(i) with retrospective effect from April 1, 1962 clarified that an asset or capital asset, being any share or interest in a company or entity registered or incorporated outside India shall be deemed to be situated in India if the share or interest derives, directly or indirectly, its value substantially from the assets located in Ind .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

y the company or entity. Value of an asset shall mean the fair market value of such asset without reduction of liabilities, if any, in respect of the asset. The specified date of valuation shall be the date on which the accounting period of the company or entity, as the case may be, ends preceding the date of transfer. However, if the book value of the assets of the company on the date of transfer exceeds by at least 15% of the book value of the assets as on the last balance sheet date preced .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of proportionality are proposed to be provided in the rules. The exemption shall be available to the transferor of a share of, or interest in, a foreign entity if he along with its associated enterprises neither holds the right of control or management, nor holds voting power or share capital or interest exceeding 5% of the total voting power or total share capital, in the foreign company or entity directly holding the Indian assets (direct holding company). Transfer of shares or interest in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n shall be available in respect of any transfer, subject to certain conditions, in a scheme of amalgamation, of a capital asset, being a share of a foreign company which derives, directly or indirectly, its value substantially from the share or shares of an Indian company, held by the amalgamating foreign company to the amalgamated foreign company. Exemption shall be available in respect of any transfer, subject to certain conditions, in a demerger, of a capital asset, being a share of a foreig .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version