Conversion of specified bonds into shares or debentures and reverse mortgage transfers are excluded from transfer for capital gains. Amendment adds two non taxable transfer categories to section 47: conversion of specified bonds into shares or debentures, and transfer of a capital asset ... Summary
Conversion of specified bonds into shares or debentures and reverse mortgage transfers are excluded from transfer for capital gains.
Amendment adds two non taxable transfer categories to section 47: conversion of specified bonds into shares or debentures, and transfer of a capital asset under a reverse mortgage scheme notified by the Central Government, each treated as a statutory exclusion from transfer for capital gains purposes.
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