Deductibility of Withholding tax

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....eductibility of Withholding tax<br> Query (Issue) Started By: - anil kalia Dated:- 2-8-2008 Last Reply Date:- 2-8-2008 Income Tax<br>Got 1 Reply<br>Income Tax<br>FACTS OF THE CASE : 1. A , B, C and D ....

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....are NRI and have invested in the shares of a PVT Ltd company in India through transfer of funds from abroad. The company has allotted them shares and filled FC-GPR Form with RBI with in 30 days of the....

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.... allotment of shares. The RBI has issued letter confirming having taken on record the investment of the NRI shareholders to be on repatriation basis. 2. Now A , B and C has sold there shares to D abro....

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....ad and taken payament abroad. A has made profit of Rs.10 lacs in the deal, whereas B and C has sold shares at there cost. Please confirm whether D another NRI was liable to deduct withholding tax (TDS....

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....). Reply By Surender Gupta: The Reply: Please go through the following ruling: 2007 -TMI - 2381 - AUTHORITY FOR ADVANCE RULINGS (In Income Tax Section - Case Laws on this site)<br> Discussion Forum ....

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....- Knowledge Sharing ....