India plans tax waivers for IDBI Bank buyer

The federal finance ministry is looking to relax a tax clause, which would require the buyer of IDBI Bank to pay additional tax if the share price rises post the final bid, one of the officials said. Share prices tend to increase after financial bids are invited by the government, the official said, noting that it would be "unfair" to ask the new buyer to pay tax on an increase in price from the time bids are placed to the closure of transaction.

from Banking/Finance-Industry-Economic Times https://ift.tt/2yuwYxj