Question ID : 1093

Transfer of shares

Dear Members

We hold 100% shares of our subsidiary based US which we now want to sell to another subsidiary of ours dia. These shares were acquired 1998-99 dolrs as the paid up capital is dolrs of the US company.

As per my understandg this transaction will be regarded as transfer for capital gas. Also we will have the benefit of dexation from 1998-99 to 2005-06 FY is this abaove understandg correct?
Please advice if any casew is there please enclose that.

B Regards
Rohit Khare '

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