Proposed notification under section 115JG (1) of the Income-tax Act, 1961 in respect of conversion of Indian branch of foreign bank into Indian subsidiary company

Proposed notification under section 115JG (1) of the Income-tax Act, 1961 in respect of conversion of Indian branch of foreign bank into Indian subsidiary company – comments of stakeholders https://www.taxtmi.com/news?id=19060 Proposed notification would prescribe conditions and consequential modifications for applying the income tax regime to conversions of an Indian branch of a foreign bank into an Indian subsidiary under section 115JG, making capital gains on such conversion not chargeable to tax where notified conditions are met and directing the adjusted application of provisions on unabsorbed depreciation, loss set off and carry forward, tax credit for deemed income, and income computation of the foreign entity and Indian subsidiary. en-us Fri, 17 Nov 2017 17:24:56 +0530 Fri, 17 Nov 2017 18:48:00 +0530 TaxTMI RSS Generator Proposed notification under section 115JG (1) of the Income-tax Act, 1961 in respect of conversion of Indian branch of foreign bank into Indian subsidiary company – comments of stakeholders https://www.taxtmi.com/news?id=19060 Proposed notification would prescribe conditions and consequential modifications for applying the income tax regime to conversions of an Indian branch of a foreign bank into an Indian subsidiary under section 115JG, making capital gains on such conversion not chargeable to tax where notified conditions are met and directing the adjusted application of provisions on unabsorbed depreciation, loss set off and carry forward, tax credit for deemed income, and income computation of the foreign entity and Indian subsidiary. News - Fri, 17 Nov 2017 17:24:56 +0530 https://www.taxtmi.com/news?id=19060