Indexation benefit

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Arpita Majumdar (Querist)
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12 September 2012 Under Section 48 first and second proviso, or any other related section, will benefit of indexation be available to a Foreign company, (which by virtue of explanation 5 to sec9(i) is taxable) which has sold shares of another foreign company which has underlying Indian assets??
When benefit of indexation comes into picture and why. and under what circumstances this company cannot avail these benefits?
Please reply soon this is very urgent!

Amol S Joglekar

Amol S Joglekar (Expert)
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12 September 2012 The benefit of indexation is available to all ASSESSEES. If your FOREIGN company is ASSESSEE, then it can take the benefit of indexation.

Arpita Majumdar

Arpita Majumdar (Querist)
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12 September 2012 Under what section?? because under section 48 it is available only for shares in indian company.

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