Proposed Tax Changes in India may have a significant impact on International Investors

more+
less-

On March 16, 2012, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2012, which included proposed legislation that seeks to reverse the decision of (India’s) Supreme Court in the Vodafone case and makes several other significant amendments to (India’s) Income Tax Act, 1961 (“IT Act”). Many of the proposed amendments take effect retroactively from April 1, 1962.

(India’s) Supreme Court ruled in the Vodafone case that income arising from the transfer of shares of a company incorporated outside India by a seller resident outside India to a buyer resident outside India is not taxable in India (even if such transfer has the effect of indirectly transferring shares of an Indian company)....

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© White & Case LLP | Attorney Advertising

Written by:

more+
less-

White & Case LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×