Tax impact of stt

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harry (Querist)
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02 August 2009 what is the tax impact of a foreign company on which transaction tax is paid in that country is sold by a resident indian?

would it qualify for claiming exemption u/s 10(38) if securities transaction tax is paid by such assessee in a foreign country?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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02 August 2009 You will have to check the rules of that country for taxability in that country. Exemption u/s 10(38) is applicable nly in respect of STT paid in our country on sale of shares held for more than 1 year

harry

harry (Querist)
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02 August 2009 My question is
whether STT paid in a foreign nation would qualify to claim tax exemption u/s 10(38) in India?

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