Change in shareholding due to relocation now treated as transfer to company under amended transfer provision. The amendment inserts a clause in subsection (2) of section 79 treating as a transfer to a company any change in shareholding that has occurred during the previous year on account of relocation as described in the Explanation to certain transfer provisions of section 47, thereby subjecting such relocation-driven shareholding changes to the transfer rule.
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Change in shareholding due to relocation now treated as transfer to company under amended transfer provision.
The amendment inserts a clause in subsection (2) of section 79 treating as a transfer to a company any change in shareholding that has occurred during the previous year on account of relocation as described in the Explanation to certain transfer provisions of section 47, thereby subjecting such relocation-driven shareholding changes to the transfer rule.
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