A Foreign Company sold Shares in an Indian Company to another Foreign Company. (Both foreign companies do not have PE in India). The following are my queries:
1. Whether the transaction is subject to Capital Gains Tax in India?
2. If so, what is the rate of Tax on such Capital Gains. (Assume it as Long Term.)
3. Whether the buyer foreign company should deduct tax from the seller as per Sec.195 (TDS applicability)?
4. If so, whether it should apply TAN? (It has no PE in India and hence no address in India). How to comply with Sec.195 in such case?
Thanks in advance.

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