income tax - capital gain

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Ananthselvaraj (Querist)
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06 January 2009 when a foreign co having shares in an indian co, transfers those shares to another foreign co, what would be tax effect (ie capital gain)....? Atleast give me the section referrences...

CA Chaitanya

CA Chaitanya (Expert)
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06 January 2009 If it transfers in a scheme of Amalgamation or demerger then it will not attract capital gains tax.

CA Chaitanya

CA Chaitanya (Expert)
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06 January 2009 If it transfers not as a part of the amalgamation or demerget, then it attracts capital gains tax.

Ananthselvaraj

Ananthselvaraj (Querist)
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06 January 2009 thank you for ur quick reply....can u give me any circular reference or section ref....

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