Direct foreign listing: Indian companies face capital gains hurdle

FinMin seeks 10% capital gains tax on transfer of Indian shares

Direct overseas listing of Indian companies may take time as no decision has been taken yet on whether capital gains tax will be imposed on such transactions.   

Also, while the Union Cabinet had approved foreign direct listing in March 2020 (without having to list in India), there’s been a delay in finalising the foreign jurisdictions where companies could list their shares, according to two officials in the government.

The ministries concerned, including finance and corporate affairs, along with regulators, have not arrived at a consensus so far, said one of the two officials. 

“Multiple deliberations within ministries and at regulatory levels have