Transactions not regarded as transfer: specified exemptions for reorganisations, cross border securities and fund relocations from capital gains treatment. Clause 70 specifies transactions not regarded as a transfer for capital gains: exemptions include family partitions and succession transfers, intra group transfers between parent and wholly owned subsidiaries and reciprocal transfers where transferees are Indian companies, schemes of amalgamation and demerger subject to Indian company or shareholder continuity and non taxation conditions for foreign entities, cross border transfers of specified bonds, GDRs, derivatives and securities traded in IFSCs for foreign currency consideration, fund relocations to resultant IFSC funds, mutual fund consolidations, securities lending under regulatory guidelines, certain conversions and successions, and transfers to public cultural or educational institutions, with defined terms set out in an accompanying table.