U/s 10(38) of IT Act 1961 - Central Government notifies all transactions of acquisition of equity share entered into on or after the 1st day of October, 2004

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....y of October, 2004 which are not chargeable to securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004 (23 of 2004), other than the following, namely :- (a) where acquisition of existing listed equity share in a company whose equity shares are not frequently traded in a recognised stock exchange of India is made through a preferential issue: Provided that nothing contained in this clause shall apply to acquisition of listed equity shares in a company:- (i) which has been approved by the Supreme Court, High Court, National Company Law Tribunal, Securities and Exchange Board of India or Reserve Bank of India in this behalf; (ii) by any non-resident in accordance with foreign direct investment guid....

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....ard of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines,1999; (v) acquisition by any non-resident in accordance with foreign direct investment guidelines of the Government of India; (vi) where acquisition of shares of company is made under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011; (vii) acquisition from the Government; (viii) acquisition by an investment fund referred to in clause (a) to Explanation 1 to section 115UB of the Income-tax Act or a venture capital fund referred to in clause (23FB) of section 10 of the income-tax Act or a Qualified Institutional Buyer; (ix) acquisition by mode of transfe....