Reports about tax developments in India | KPMG | GLOBAL

India: Share transfer, reorganisation; capital gains and book profit computation

Reports about tax developments in India

The KPMG member firm in India has prepared reports about the following tax developments (read more at the hyperlinks provided below).

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  • Transfer of shares by Mauritian company under group reorganisation: The Bombay High Court held that capital gain in respect of a transfer of shares of an Indian company, by a Mauritian company, is not taxable in India under the India-Mauritius income tax treaty. The case is: JSH Mauritius Ltd. Read an August 2017 report [PDF 339 KB]
  • Certificate of coverage, social security agreements: The Employees’ Provident Fund Organisation (EPFO) announced a new application software for the online generation of a certificate of coverage to obtain an exemption from contributions towards social security in the host countries for outbound employees with which India has signed social security agreements. Read an August 2017 report [PDF 311 KB]
  • Capital gains credited to capital reserve for book profit purposes: The Bombay High Court held that capital gains directly credited to the capital reserve account (instead of the profit and loss account) cannot be considered for purposes of computing book profit under section 115JB of the Income-tax Act, 1961. The case is: Bhagwan Industries Ltd. Read an August 2017 report [PDF 284 KB] 

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