Dear All,
I feel there is no compulsion to intimate RBI about transfer of shares in a Indian company from NR to another NR.The simple logic is there is no money coming into India from overseas through banking channels.
However there shall be liabillity of Foreign National purchasing shares to deduct TDS on the amount of Capital Gains. Great care needs to be taken before fixing the value of shares being transferred as provisions of sec. 56(vii) may kick in.
Anuj
+91-9810106211
femaquery @ gmail.com
Hello Anuj Sir,
I have a specfic query and wanted your guidance on resolving the matter.
Sir,
Have a similar query one of the pvt. ltd. company in which 63% stake is held by foreign entity.The foreign entity wamts to sell 5% capitalstake to any foreign entity.
Pls guide what are the things which i need to consider before initialtong this.
What will be the roles and responsibilities at companies end before registering the transfer.
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