Amendment of section 47

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Full Text of the Document

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....tal asset being a share or shares held in an Indian company, by the amalgamating foreign company to the amalgamated foreign company, if - (a) at least twenty-five per cent. of the shareholders of the amalgamating foreign company continue to remain shareholders of the amalgamated foreign company, and (b) such transfer does not attract tax on capital gains in the country, in which ....