Facilitating certain strategic disinvestment - Definition of ...

Notes Income Tax

February 3, 2023

Facilitating certain strategic disinvestment - Definition of "strategic Investment" has been amended to include sale of sharholding by CG/SG/PSU in a Public company or a company which results in (i) reduction of its shareholding below fifty-one per cent, and (ii) transfer of control to the buyer. Further sec 72AA also amended to allow carry forward of accumulated losses and unabsorbed depreciation allowance in the case of amalgamation of one or more banking company with any other banking institution or a company subsequent to a strategic disinvestment, if such amalgamation takes place within 5 years of strategic disinvestment.

View Source

← Previous Next →

Facilitating certain strategic disinvestment - Definition of ...

Notes Income Tax

February 3, 2023

You may also like:

Exemption to buyers of PSU shares during selloff under strategic disinvestment - Income-tax (Eighth Amendment) Rules, 2023 - Notification

Investment by Foreign Portfolio Investors (FPI) in Debt - Relaxations - Exemption from the limit on short-term investments till maturity or sale of such investments in...

This notification amends the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, introducing key changes. It defines "control" for limited liability...

Undisclosed investment in furniture and fixture - surrender in survey subsequently retracted - onus of proof - If the assessee has denied making any such investment...

This circular amends certain provisions related to compliance requirements for non-individual investment advisers. Firstly, it allows non-individual investment advisers...

Disallows of interest expenditure u/s 14A - the disallowance has to be made even in case of strategic investments in the associate company. - AT

Certain sections of the IGST Act, 2017 came into force w.e.f. 22.06.2017 i.e Definitions, Officers, Registration, Application of certain provision of CGST to IGST, Power...

This text provides instructions and regulations related to overseas investment transactions under India's Foreign Exchange Management Act (FEMA). Key points include:...

The circular addresses amendments to the Foreign Exchange Management (Overseas Investment) Directions, 2022 regarding investments in overseas funds. It clarifies that...

Investment by a person resident outside India in an Investment Vehicle - FEMA - New Regulations

Foreign Investment in units issued by Real Estate Investment Trusts, Infrastructure Investment Trusts and Alternative Investment Funds governed by SEBI regulations - Circular

Appellant booked artificial short-term capital loss by purchasing shares from group entities at exorbitant rates and selling same shares to other group entities at lower...

Disallowance u/s.14A in respect of strategic investments made by the assessee - In any case, the undisputed fact is that the borrowed funds has been utilized by the...

Revision u/s 263 by CIT - PCIT has not disputed the nature of the investments being strategic investment made for the purpose and in course of the business of the...

Disallowance under section 14A read with rule 8D - no expenses were incurred toward earning of dividend income shares of Dabur India Ltd, which was a strategic...

Quick Updates: