Section 47(via) - Transfer of shares held in an Indian company, by the amalgamating foreign company to the amalgamated foreign company - Income Tax - Ready Reckoner - Income Tax

Section 47(via) :- Transfer of shares held in an Indian company, by the amalgamating foreign company to the amalgamated foreign company Section Transaction not regarded as transfer Transferor u/s 2(47) Transferee u/s 2(47) Capital asset involved u/s 2(14) What is the cost in the hands of transferee Period of Holding 47(via) Transfer in a scheme of amalgamation, of shares held in an Indian company, by the amalgamating foreign company to the amalgamated foreign company if: At least 25% of the shareholders of the amalgamating foreign company continue to remain shareholders of the amalgamated foreign company and Such transfer does not attract tax on capital gains in the country, in which the amalgamating company is incorporated. Amalgamating Foreign Company Amalgamated Foreign Company Shares of any Indian Company (domestic company) Cost to the previous owner POH of previous owner shall also be considered. NOTE:- The above transaction does not attract tax on capital gains in the country in which the amalgamating company is incorporated.