Part XIVAMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189 )
Rupee denominated bond transfer between non-residents and preference-to-equity conversion now specified in tax amendment rules. The Income-tax Act is amended, effective 1 April 2018, by inserting clause (viiaa) covering transfers outside India of rupee denominated bonds of an ... Summary
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Rupee denominated bond transfer between non-residents and preference-to-equity conversion now specified in tax amendment rules.
The Income-tax Act is amended, effective 1 April 2018, by inserting clause (viiaa) covering transfers outside India of rupee denominated bonds of an Indian company issued outside India between non-residents, and clause (xb) covering transfers by conversion of preference shares into equity shares of the same company, thereby adding these specific transaction types to the statutory provision dealing with transfers.
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