Income tax implication on FCCB Buy back
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 November 2010
Can some one thro' what is the tax implication in respect of FCCB buy back?
Suppose Rs. 50 cr FCCB is bought at a discount (face value, principal)and paying
Rs. 25 cr , is Rs. 25 cr will be taxable?
Suppose Rs. 50 cr FCCB is bought at a discount (face value, principal)and paying
Rs. 25 cr , is Rs. 25 cr will be taxable?
06 November 2010
There is no gain or loss arises on purchase. it arises at the time of sale. so there is no tax implication.
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2010
Hi, Thanks for the swift response, i would like to clarify here that all companies that bought back FCCB offered to tax on diacounted portion".
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