TDS on remittance of compensation to non resident shareholders

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.... the Reserve Bank of India to remit the amount of compensation payable to their non-resident shareholders as a result of the nationalisation of the general insurance business in India. The Reserve Bank of India has sought clarification from the Board as to the amount of tax to be deducted before permitting the remittance. 2. The amount of compensation payable to the non-resident shareholders wi....

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....1954, then the price at which the shares were acquired would be the cost of acquisition and in case the shares were purchased before 1st January, 1954 then the cost of acquisition will be either the cost price or the market value as on 1st January, 1954 at the option of the assessee. The Director of Insurance has been advised to ask the companies concerned to approach the Income-tax Officers for t....