Determination of cost of specified transfers u/s 49 - in case of conversion of preference shares of a company into equity shares of that company - Budget 2017-18 w.e.f. AY 2018-19
3 February, 2017
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Deemed cost of acquisition: equity received on conversion of preference shares treated as costing the original preference shares. A new deeming provision treats the cost of acquisition of equity shares received in consideration of a transfer under clause (xb) of section 47 as the ... Summary
Deemed cost of acquisition: equity received on conversion of preference shares treated as costing the original preference shares.
A new deeming provision treats the cost of acquisition of equity shares received in consideration of a transfer under clause (xb) of section 47 as the cost of the preference shares in relation to which those equity shares are acquired, thereby carrying over the preference share cost for computing capital gains.
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