Dear Friends,
Is transfer of Indian shares from NRI to Foreign company is taxable in India? And if yes, then under which source of income.
Kindly expedite.
Thanx,
CA.Happy Bhardwaj
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Taxability on transfer of shares
Replies (2)
As per my view, capital gain would arise to Nri & taxable in India & foreign company needs to deduct tds on the same.
yes it is taxable as Capital Gain, as the asset transferred is Indian Shares.
But, Section 47 will be applicable: If these shares are transferred under the scheme of business reorganisation of foreign company.
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