Framework for setting up of Wholly Owned Subsidiaries by Foreign Banks in India Taxation matters - Dated - 26-11-2013 - The Reserve Bank has been receiving queries from foreign banks regarding capital gains tax and incidence of Stamp Duty on conversion of existing foreign bank branches into wholly owned subsidiaries. In this context it may be indicated that Government of India has inserted, by the Finance Act, 2012, a new Chapter XII-BB titled- Special Provisions relating to Conversion of Indi................................... - News
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