Transfer of shares
This query is : Resolved
07 November 2008
Sir,
The details are as follows
1.95% of share capital of an Indian private limited company(100% EOU under STPI ), set up in 2001, is owned by a foreign company
( Italian).
2.Now the foreign company wants to transfer the shares to another foreign company.
Kindly clarify what are the procedures to be taken under various laws;viz,FERA, Companies Act, Income tax act etc.
Please calrify whether
1. An OCB can transfer the shares to another OCB,if so permission is required ?
2. Income tax will be attracted on the Indian Company ( as an agent )?
The details are as follows
1.95% of share capital of an Indian private limited company(100% EOU under STPI ), set up in 2001, is owned by a foreign company
( Italian).
2.Now the foreign company wants to transfer the shares to another foreign company.
Kindly clarify what are the procedures to be taken under various laws;viz,FERA, Companies Act, Income tax act etc.
Please calrify whether
1. An OCB can transfer the shares to another OCB,if so permission is required ?
2. Income tax will be attracted on the Indian Company ( as an agent )?
08 November 2008
FEMA permits transfers between NRs. IT Act may assess capital gains. Company's Act like any other normal transfer.
15 November 2008
Please calrify whether
1. An OCB can transfer the shares to another OCB,if so permission is required ?
2. Income tax will be attracted on the Indian Company ( as an agent )?
1. An OCB can transfer the shares to another OCB,if so permission is required ?
2. Income tax will be attracted on the Indian Company ( as an agent )?
27 June 2023
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