TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 49: Equity Share Cost Equals Original Preference Share Cost from April 2018 Onwards.</h1> Clause 25 of the Finance Bill, 2017 proposes an amendment to section 49 of the Income-tax Act concerning the cost of acquisition for certain asset transfers. Specifically, it introduces sub-section (2AE) to address cases where equity shares are acquired through the conversion of preference shares. The amendment stipulates that the cost of acquiring such equity shares will be considered equivalent to the cost of the original preference shares. This change is effective from April 1, 2018, and applies to the assessment year 2018-2019 and onwards.
TaxTMI 
TaxTMI 