Section 47(xb) - Transfer by way of conversion of preference shares of a company to its equity shares - Income Tax - Ready Reckoner - Income Tax

Section 47(xb) :- Transfer by way of conversion of preference shares of a company to its equity shares Conversion of Preference Share of a company into Equity Share of same Company, following points has to consider :- Cost of Acquisition of equity share received on conversion shall be the cost of that part of preference share which is so converted. Period of holding of equity share shall also include the period for which preference shares held by the assessee.