Can NRI/PIO Claim Exemption on Transfer of Bonus Shares

CA. Anuj Gupta , Last updated: 02 August 2011 Share Follow on Google News

We all know that cost of Bonus shares is NIL as per Sec. 55(2)(aa)(iii) of the Act and in normal circumstances, the gain on transfer of Bonus shares shall be fully taxable in the hands of seller. However, Income Tax Act has a special provision under sec. 115F for NRIs/PIOs under whic

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CA. Anuj Gupta

Practices in NRI, Int.Tax, FEMA, TP , FDI/FIPB & FCRA

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Can NRI/PIO Claim Exemption on Transfer of Bonus Shares

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