07 November 2008
Sir, The details are as follows 1.95% of share capital of an Indian private limited company(100% EOU under STPI ), set up in 2001, is owned by a foreign company ( Italian). 2.Now the foreign company wants to transfer the shares to another foreign company.
Kindly clarify what are the procedures to be taken under various laws;viz,FERA, Companies Act, Income tax act etc.
Please calrify whether 1. An OCB can transfer the shares to another OCB,if so permission is required ? 2. Income tax will be attracted on the Indian Company ( as an agent )?
15 November 2008
Please calrify whether 1. An OCB can transfer the shares to another OCB,if so permission is required ? 2. Income tax will be attracted on the Indian Company ( as an agent )?
CAclubindia
