https://www.taxtmi.com/article/detailed?id=1664 Relief from long-term capital gains tax is available where net consideration from sale of residential property is reinvested in equity of a newly set-up manufacturing SME by an individual or HUF holding majority interest, and the company applies proceeds to purchase new plant and machinery within a prescribed period; gains become taxable if the qualifying shares or assets are transferred within the specified holding period. Amendments also deem FMV as full consideration when consideration is indeterminate, carry over cost of acquisition on succession to a company, expand referrals to valuation officers where declared values vary from FMV, and relax share-allotment requirements in amalgamation and demerger rollovers. en-us Wed, 21 Mar 2012 07:50:51 +0530 Wed, 21 Mar 2012 07:50:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1664 Relief from long-term capital gains tax is available where net consideration from sale of residential property is reinvested in equity of a newly set-up manufacturing SME by an individual or HUF holding majority interest, and the company applies proceeds to purchase new plant and machinery within a prescribed period; gains become taxable if the qualifying shares or assets are transferred within the specified holding period. Amendments also deem FMV as full consideration when consideration is indeterminate, carry over cost of acquisition on succession to a company, expand referrals to valuation officers where declared values vary from FMV, and relax share-allotment requirements in amalgamation and demerger rollovers. Articles Income Tax Wed, 21 Mar 2012 07:50:51 +0530 https://www.taxtmi.com/article/detailed?id=1664