Section 47(viab) - Transfer of capital assets in a scheme of amalgamation, being a share of a foreign company - Income Tax - Ready Reckoner - Income Tax

Section 47(viab) :- Transfer of capital assets in a scheme of amalgamation, being a share of a 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(viab) Transfer of capital assets in a scheme of amalgamation being a share of a foreign company , referred to in Explanation 5 to section 9(1)(i) , which derives, directly or indirectly, its value substantially from the share or shares of an Indian company, held by the amalgamating foreign company to the amalgamated foreign company if: Amalgamating foreign company Amalgamated foreign company any capital asset Cost to the previous owner/transferor Banking company POH of previous owner shall also be considered NOTE:- Such transaction do not attract tax on capital gains in the country in which the amalgamating company is incorporated.