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income tax - capital gain

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(Querist)
06 January 2009 when a foreign co having shares in an indian co, transfers those shares to another foreign co, what would be tax effect (ie capital gain)....? Atleast give me the section referrences...
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CA Chaitanya

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CA Chaitanya (Expert)
06 January 2009 If it transfers in a scheme of Amalgamation or demerger then it will not attract capital gains tax.
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CA Chaitanya

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CA Chaitanya (Expert)
06 January 2009 If it transfers not as a part of the amalgamation or demerget, then it attracts capital gains tax.
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Ananthselvaraj

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Ananthselvaraj (Querist)
06 January 2009 thank you for ur quick reply....can u give me any circular reference or section ref....

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