What is the taxability of conversion of shares into ADR/GDR?
Is it regarded as transfer as per Section 2(47)?
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Conversion of Shares into ADR/GDR
Replies (1)
IN general parlance conversion means it's possible by way of selling the shares. Short term or long term Capital gain arises.So taxability is on selling of shares. Direct conversion to global depository receipts is not possible .Hence shares converted to global depository receipts tax incidence is there.
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