Govt exempts income tax on asset transfer between NLC India Ltd & NLC India Renewables Ltd under restructuring plan.

Central Government notification u/s 47(viiaf) of Income Tax Act, 1961 regarding transfer of capital asset from NLC India Limited (transferor public sector company) to NLC India Renewables Ltd (transferee public sector company) pursuant to an approved plan, treating such transfer as not regarded as transfer for income tax purposes. The notification is effective from date of publication in Official Gazette. .....

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