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India Budget 2016: Unsponsored ADRs, GDRs likely to get tax relief

The Union Budget for 2016-17 is likely to exempt unsponsored American depository receipts (ADRs) and global depository receipts (GDRs) based on underlying Indian securities from capital gains tax. The move could be aimed at encouraging such listings. Besides, such exemptions might also come for ADRs and GDRs based on Indian unlisted stocks and securities other than equities.

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India Budget 2016: Unsponsored ADRs, GDRs likely to get tax relief

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  1. India Budget 2016: Unsponsored ADRs, GDRs likely to get tax relief The Union Budget 2016-17 is likely to exempt unsponsored American depository receipts (ADRs) and global depository receipts (GDRs) based on underlying Indian securities from capital gains tax. The move could be aimed at encouraging such listings. Besides, such exemptions might also come for ADRs and GDRs based on Indian unlisted stocks and securities other than equities. At present, India Budget 2016 the law exempts ADRs and GDRs from capital gains tax if they are backed by listed Indian shares; there is no such clarity if these depository receipts are issued against unlisted shares or securities other than shares. Also, the relief is currently given only to sponsored ADRs and GDRs, not the unsponsored ones. Read Full Article Over Here : Business Standard News

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