capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2011 Indian company had made investment in 49% shares of foreign company during 2007-08. Now the Indian company want to sell the share to foreign company from which it had purchased.

Please advise on Income Tax/FEMA issues.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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29 May 2011 SINCE THE PERIOD OF HOLDING IS MORE THAN 12 MONTHS HENCE LTCG WILL ARISE
IT WILL BE TAXED AT 20 PERCENT

CA MANOJ GUPTA
JODHPUR
09828510543

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2011 Dear Mr.Gupta

The company can sell the shares from whom the same were purchased. any restriction in income tax?

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