Can anyone kindly tell me if there are any formalities to be followed in case of a transfer of shares of a private ltd company held by a non resident company to another non resident company?I believe regulation 9 o FEMA 2000 deals with this but does not go into detail.also, is there any tax issue involved in this?
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Trasnfer of shares by one non resident company to another
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Yes the tax issues similliar to Vodafone are involved in this case, or shall I say the income being generated shall be taxable in the hands of seller. Form FC-TRS is also required to be filed under FEMA.
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