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of <h1>Section 47(via) exempts certain foreign company share transfers from capital gains tax under specific shareholder and tax conditions.</h1> Section 47(via) of the Income Tax Act addresses the transfer of shares held in an Indian company by an amalgamating foreign company to an amalgamated foreign company. This transaction is not regarded as a transfer for capital gains tax purposes if at least 25% of the shareholders of the amalgamating foreign company remain shareholders of the amalgamated foreign company and the transfer does not incur capital gains tax in the country where the amalgamating company is incorporated. The cost and period of holding are based on the previous owner's details.
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