Monday, 30 December 2013

holding & subsidiary relationship in the term of the section 2(87)

The Ministry is hereby clarified that the shares held by a company or power exercisable by it in another company in a Fiduciary Capacity shall not be counted for the purpose of determining the holding & subsidiary relationship in the term of the section 2(87) of the Company Act 2013. (General Circular No. 20 /2013).

No comments:

Interest on Foreign Currency Loan & Corresponding Forex Loss for Strategic Share Acquisition Held Deductible as Revenue Expenditure

  The tax treatment of interest on funds borrowed to acquire shares hinges on a single, crucial distinction: the   purpose   behind the acqu...