The Shome Committee's recommendations on the Section 9 retrospective amendment will determine the tax liability of the Bain Genpact deal.
This is because the committee will decide on the definition of substantial value as well as what comprises an indirect transfer. A threshold is likely to be specified above which transfer of shares on a stock exchange will be taxed. Since Genpact is listed on the NYSE, this qualification will determine the tax ability of the deal.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
