https://www.taxtmi.com/manuals?id=966 Transfer of capital assets in a scheme of amalgamation is treated as not regarded as a transfer where the asset is a share of a foreign company deriving substantial value from shares of an Indian company. The amalgamating foreign company transfers the shares to the amalgamated foreign company, the transferee takes the cost of the previous owner, and the previous owner's period of holding is also counted. The note also states that such a transaction does not attract capital gains tax in the country of incorporation of the amalgamating company. en-us Tue, 25 Aug 2015 17:28:00 +0530 Thu, 28 May 2026 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=966 Transfer of capital assets in a scheme of amalgamation is treated as not regarded as a transfer where the asset is a share of a foreign company deriving substantial value from shares of an Indian company. The amalgamating foreign company transfers the shares to the amalgamated foreign company, the transferee takes the cost of the previous owner, and the previous owner's period of holding is also counted. The note also states that such a transaction does not attract capital gains tax in the country of incorporation of the amalgamating company. Manuals Income Tax Tue, 25 Aug 2015 17:28:00 +0530 https://www.taxtmi.com/manuals?id=966