Write back of a ecb loan from foreign holding co

19 July 2019
1. Will the write back of a ECB loan from foreign holding co by Indian co treated as Capital receipt ,this is done pre winding up of Indian co
2. Is MAT applicable on the book profits after the above writeback 3.Any Tax is to be paid on remitting equity to foreign co

V K Vijayaraghavan (Querist)
08 August 2019
MAT is applicable but carry forward unabsorbed depreciation can be adjusted .
Yes it's a capital receipt

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