Hi,
Facts of the Case:
Indian Co. has invested (more than 50%) in the Shares of U.K. Co. and thus became the subsidiary of it. It now intends to transfer the shares of UK Co. For time being ignore the period of holiding.
As per the Indian Tax law, Resident Indian Co. will be liable to capital gains tax in India.
Question:
As per DTAA between Indo - UK , Capital gains will charged as per the Domestic law of the country.Does anyone know what will be the tax rate in the UK for Indian Co.who transfer the shares of UK Co.
CAclubindia
