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of <h1>Section 70: Tax-free treatment for specified transfers with continuity, registration and foreign-tax conditions; penalties for noncompliance</h1> Section 70 excludes specified transfers from capital gains, covering family partitions, transfers on death/gift/trust, intra-group transfers, amalgamations/demergers (including cross-border), IFSC fund relocations, conversions (e.g., bonds to equity, company to LLP) and other structured reorganisations, subject to detailed continuity, registration and foreign-tax conditions. Key enacted changes from the Bill: a revised cross-reference in section 9, relocation deadline extended to 31 March 2030, and drafting clarifications linking eligibility to Schedule VI and sectoral regulations. Failure to meet shareholding, registration or foreign-tax tests will attract capital gains and heightened evidentiary requirements.
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