https://www.taxtmi.com/news?id=3871 The Committee recommends prospective application of the Finance Act, 2012 indirect transfer provisions because they widen the tax base; if applied retrospectively, tax demands should be limited to the taxpayer earning the capital gain, with interest and penalties waived. It prescribes definitions and tests: "share or interest" limited to ownership/control rights; "substantially" set at a 50% value threshold derived from Indian assets; a look through approach for "directly or indirectly"; FMV valuation at last balance sheet date with adjustments; proportional taxation of gains attributable to Indian assets; and specific exemptions/safe harbors for small holdings, listed companies, intra group restructurings and SEBI regulated FII investments. en-us Thu, 11 Oct 2012 10:44:15 +0530 Wed, 11 Feb 2026 15:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3871 The Committee recommends prospective application of the Finance Act, 2012 indirect transfer provisions because they widen the tax base; if applied retrospectively, tax demands should be limited to the taxpayer earning the capital gain, with interest and penalties waived. It prescribes definitions and tests: "share or interest" limited to ownership/control rights; "substantially" set at a 50% value threshold derived from Indian assets; a look through approach for "directly or indirectly"; FMV valuation at last balance sheet date with adjustments; proportional taxation of gains attributable to Indian assets; and specific exemptions/safe harbors for small holdings, listed companies, intra group restructurings and SEBI regulated FII investments. News - Thu, 11 Oct 2012 10:44:15 +0530 https://www.taxtmi.com/news?id=3871