TDS on slump sale
This query is : Resolved
22 December 2010
Dear experts,
sale consideration received in shares for slump sale are considered as Sale consideration for capital gains rite??
Now consider a case where A Ltd (indian co.) purchases an undertaking in india owned by a foreign co. US inc. , the consideration for the same was paid in eq. shares of A ltd.
Now as the capital gains arising from the slump sale in indian fo us inc is taxable in india, A ltd has to deduct TDS u/s 195, but how will A Ltd deduct such TDS???
Please give your comments
sale consideration received in shares for slump sale are considered as Sale consideration for capital gains rite??
Now consider a case where A Ltd (indian co.) purchases an undertaking in india owned by a foreign co. US inc. , the consideration for the same was paid in eq. shares of A ltd.
Now as the capital gains arising from the slump sale in indian fo us inc is taxable in india, A ltd has to deduct TDS u/s 195, but how will A Ltd deduct such TDS???
Please give your comments
22 December 2010
TDS is to be deducted on capital gain portion as per applicable rate of TDS.
22 December 2010
from total sale cosideration, tds liability on capital gain portion, should be deducted and balance consideration to be used for allotment of shares in A ltd.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
