We are collecting authors'profile. As soon as we get, we update it. Please note this is not official profile. The information including photo is collected from web.
| Contact |
| twitter |
| Linkedin |
...While the move is certainly a step in the right direction, the government would need to tweak the income tax laws if this particular reform is to take flight. Tax laws at present do not specifically cater to outbound mergers, making it an unattractive proposition from a tax view point. For example, unlike domestic or inbound mergers there is no specific tax exemption for outbound mergers. When an Indian company merges into a foreign company, the consequent transfer of the capital assets of the Indian company to the foreign company is technically liable to capital gains tax in India. Given the fact that the Indian company would cease to exist upon the merger, the tax authorities could attempt to fasten the tax liability onto the foreign company or its shareholders. ...Live Mint on Nov. 15, 2017, 12:10 a.m.