Income from certain transfers not to be treated as capital gains

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....transfer of any investment asset under a will;           (d) transfer of any investment asset by a company to its subsidiary company, if                (i) the parent company or its nominees hold the whole of the share capital of the subsidiary company,                (ii) the subsidiary company is an Indian company; and (iii) the subsidiary company treats the asset as an investment asset;           (e) transfer of any investment asset by a subsidiary company to the holding company, if—  &nbsp....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ny is incorporated;           (h) transfer of any investment asset being shares held in an Indian company, by a demerged foreign company to the resulting foreign company, if—                (i) the transfer is effected under a scheme of demerger;                (ii) the shareholders holding not less than three-fourths in value of the shares of the demerged foreign company continue to remain shareholders of the resulting foreign company;                (iii) the transfer does n....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e company on the date of conversion;               (iii) the shareholders of the company do not receive any consideration or benefit, directly or indirectly, in any form or manner, other than by way of share in profit and capital contribution in the limited liability partnership;               (iv) the aggregate of capital contribution by the shareholders of the company in the limited liability partnership shall not be less than fifty per cent. of the total capital of the limited liability partnership at any time during the period of five years from the date of conversion;      &....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... demerged company, if the transfer is made in consideration of demerger of the undertaking;          (n) transfer of any investment asset by a sole proprietary concern to a company, if —              (i) the sole proprietary concern is succeeded by the company in the business carried on by it;              (ii) all the assets and liabilities of the said concern relating to the business immediately before the succession become the assets and liabilities of the company;             (iii) the shareholding of the sole p....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....p;      (i) the transfer is effected under a scheme for lending of any securities; and              (ii) the scheme is framed in accordance with the guidelines issued by the Securities and Exchange Board of India or the Reserve Bank of India;          (t) transfer of any investment asset, if—              (i) the transferor is a company; and              (ii) the asset of the company is distributed to its shareholders on its liquidation;        &nbs....