I want to know the provision regarding the transfer of shares of unlisted co by Non-rsident to Non-resident. I have searched sec 48, 112 and 115E. There are no such provisions of particularly regarding unlisted Co's shares. Pls tell me the provisions and sections. How can we calculated Tax liability of the Long Term capital Gain on such transfer?
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Transfer of shares of an unlisted co by non-resident to non-
Replies (2)
there is not any circular regard this
valuation under DCF method & pay capital gain tax on transfer
Here tax shall be leviable u/s 112(c) @ 20% plus education cess.
Sec. 112 clearly provides that in case of a non-resident or a non-resident Company the tax shall be leviable @ 20%.
Also keep in mind provisions of sec 56(2) wherein the value of shares should be determined under Rule 11UA and should be certified by a Chartered Accountant, otherwise the difference in the value of shares SO transferred shall be taxable u/s 56(2)(vii).
Anuj
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