Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARDS :: form 3cd :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARD :: TDS
 
 
Direct Tax »
 Best 5 Income Tax-Saving SIP plans in India: How To save taxes by Investing in SIPs under 80C
 Tax refund checks are finally in the mail
 Income Tax dues in advance can be paid at RBI or at authorised bank branches by March 2017
 Why you must be looking beyond tax planning
 I-T dept. to lauch app for paying tax
 CBDT to taxman: Step up TDS survey operations to boost collections
 Tax Officers Asked To File Self-Appraisal Report On E-Assessment
 CBDT to taxman: Step up TDS survey ops to boost collections
 Govt to issue exemption list on new tax for unlisted firms
 CBDT issues third round of certificates to tax payers
 Central Board of Direct Taxes (CBDT) signs four more unilateral Advance Pricing Agreements (APAs)

Hero pays Rs 811 crore tax on Honda stake buyout: CBDT
July, 15th 2011

The BM Munjal-promoted Hero Group has paid Rs 811 crore as capital gains tax for buying out erstwhile partner Honda from their joint venture, Hero Honda, Central Board of Direct Taxes (CBDT) on Thursday said.

"Hero has paid the entire tax amount of Rs 811 crore in two tranches, Rs 100 crore in March and Rs 711 crore in April, at the highest rate of 22 per cent. They have not sought any concession," a CBDT spokesperson told media.

 

It is capital gains tax, paid by way of withholding it from the payment made by Hero to Honda, he added.

In December last year, the Indian promoter of the two-wheeler maker, the B M Munjal family had agreed to buyout the entire 26 per cent stake of Honda in Hero Honda for Rs 3,841.83 crore. It brought an end to a 26-year-old successful joint venture.

Following Honda's exit, Hero Group promoter firm Hero Investments Pvt Ltd (HIPL's) stake in Hero Honda was increased to 43.33 per cent as of last month from 17.33 per cent as on December 31, 2010.

In March, the Cabinet Committee on Economic Affairs (CCEA) had approved a proposal for a Rs 4,500 crore foreign direct investment in HIPL by Bain Capital and Lathe Investment.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions