INTERNATIONAL FINANCIAL MANAGEMENT
Taxation uation the provisions of the Income Tax Act, income by way of dividend on shares issued under GDR ADR mechanism would be taxed at the rate f 0 per cent. The issuing company should er the net dividend payments after remitting tax at source to the ODB. On...
INTERNATIONAL FINANCIAL MANAGEMENT
Taxation on Foreign Currency Convertible Bonds interest payments on bonds, until the conversion option is exercised, would be subject to ction of tax at source at the rate of ten per cent. Tax n dividend on the converted portion of FCCB would be subject to deduction...
INTERNATIONAL FINANCIAL MANAGEMENT
Transfer and Redemption A non-resident holder of GDRs/ADRs may transfer them, or may ask the ODB tQ redeem them, In the case of redemption, the ODB should request the DCB to get the corresponding underlying shares shares released in favour of the non-resident...
INTERNATIONAL FINANCIAL MANAGEMENT
Units of Foreign Investment in the Issuing Company The ordinary-shares and FC-::R:.issued against GDR~/ADR~should be treated as direct foreign investment in the issuing company. The aggregate of the foreign investment, made either directly or indirectly through GDR...
INTERNATIONAL FINANCIAL MANAGEMENT
Issue of GDR,sIDEs by IT Software Services Companies Indian companies engaged in information technology software and information technology services (IT software/services) are eligible to offer their non-resident/resident' permanent employees (including Indian and...
INTERNATIONAL FINANCIAL MANAGEMENT
Issue Structure of the GDR sANDERs GORILLA OR may be issued for one or more underlying shares or bonds held with the domestic custodian bank (DCB). GOR~/FCCBs may e denominated in any freely convertible foreign’ currency. The ordinary shares underlying the...
