SoftBank may have to shell out ~Rs 2,000 crore as tax – Financial Express

  • Press Release|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 26 October, 2020

Recent Posts

News, Blog, Insolvency and Bankruptcy Code

Interim Moratorium Barred Continuation of Proceedings u/s 138 of NI Act Against Petitioner Due to IBC’s Overriding Effect | HC

Blog, News, FEMA & Banking

Borrower’s Right to Redeem Secured Asset Ends on Publication of Notice u/s 9(1) of SI Rules, Not After Sale Completion | SC

Latest from Taxmann

 

Financial Express “Naveen Wadhwa, DGM, Taxmann.com, said: “Flipkart.com has both resident and non-resident shareholders. As far as resident shareholders are concerned, the capital gains arising to them from this deal shall be taxable in India. However, the overseas shareholders shall be liable to pay tax in India if the resultant capital gain is taxable in India as per tax treaties. Both India-US and India-Mauritius tax treaties provide the taxing rights to India if capital gains accrue in India as per Section 9 of the Income Tax Act. The India-Mauritius treaty grandfathers the capital gains arising from sale of shares which were acquired before April 1, 2017, accordingly, no tax shall be levied on it.”

 

Read the full story here: SoftBank may have to shell out, Taxmann

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Comments are closed.

«
»

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied