Capital Gains - conversion of preference shares of a company into equity shares of that company shall also not be regarded as transfer - Budget 2017-18 w.e.f. AY 2018-19
3 February, 2017
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Conversion of preference shares into equity not treated as transfer, changing capital gains treatment from assessment year 2018-19. The Finance Bill, 2017 adds a new clause excluding conversion of preference shares into equity of the same company from the definition of transfer for ... Summary
Conversion of preference shares into equity not treated as transfer, changing capital gains treatment from assessment year 2018-19.
The Finance Bill, 2017 adds a new clause excluding conversion of preference shares into equity of the same company from the definition of transfer for capital gains purposes. This amendment, aligning preference-share conversion with existing non-transfer treatment for bond or debenture conversions, takes effect from 1 April 2018 and applies to assessment year 2018-19 onward.
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