No Benefits To Foreign Firms Trying To Dodge Indian Tax Laws, Rules Madras High Court tssj bsj

No Benefits To Foreign Firms Trying To Dodge Indian Tax Laws, Rules Madras High Court

No Benefits To Foreign Firms Trying To Dodge Indian Tax Laws, Rules Madras High CourtMadras High Court (Picture Credits- Facebook/Readinfo)
Snapshot
  • Now, any transfer of shares by companies registered in India to a step-down subsidiary — a unit of the subsidiary — cannot be termed a valid gift.

The Madras High Court has ruled that the Union government need not provide any tax benefit to foreign companies investing in India if the objective of the investment is to dodge domestic tax laws or such attempts are made.

A Madras High Court bench comprising Justices TS Sivagnanam and V Bhavani Subbaroyan has also ruled that any transfer of shares by companies registered in India to a step-down subsidiary (a unit of the subsidiary) cannot be termed a valid gift.

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