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Taxability on transfer of shares

Others 953 views 2 replies

Dear Friends,

Is transfer of Indian shares from NRI to Foreign company is taxable in India? And if yes, then under which source of income.

Kindly expedite.

Thanx,

CA.Happy Bhardwaj

Replies (2)

As per my view, capital gain would arise to Nri & taxable in India & foreign company needs to deduct tds on the same.

yes it is taxable as Capital Gain, as the asset transferred is Indian Shares. But, Section 47 will be applicable: If these shares are transferred under the scheme of business reorganisation of foreign company.


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