TMI BlogIncome from certain transfers not to be treated as capital gainsX X X X Extracts X X X X X X X X Extracts X X X X ..... (i) the parent company or its nominees hold the whole of the share capital of the subsidiary company, (ii) the subsidiary company is an Indian company; and (iii) the subsidiary company treats the asset as an investment asset; (e) transfer of any investment asset by a subsidiary company to the holding company, if— (i) the whole of the share capital of the subsidiary company is held by the holding company or its nominees, (ii) the holding company is an Indian company, and (iii) the holding company treats the asset as an investment asset; (f) transfer of any investment asset by a predecessor to a successor in a scheme under a business reorganisation if the succe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 45 of the Banking Regulation Act, 1949; 10 of 1949. (j) transfer of any investment asset by a private company or unlisted public company to a limited liability partnership or any transfer of a share held in the company by a shareholder as a result of conversion of the company into a limited liability partnership in accordance with the provisions of section 56 or section 57 of the Limited Liability Partnership Act, 2008, if— 6 of 2009. (i) all the assets and liabilities of the company immediately before the conversion become the assets and liabilities of the limited liability partnership; (ii) all the shareholders of the company immediately before the conversion become the partners of the limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er a non-resident nor a foreign company; (l) transfer of shares of a predecessor co-operative bank by a shareholder under a scheme of business reorganisation, if the transfer is made in consideration of the allotment to the shareholder of shares in the successor co-operative bank; (m) transfer of shares by the resulting company, in a scheme of demerger, to the shareholders of the demerged company, if the transfer is made in consideration of demerger of the undertaking; (n) transfer of any investment asset by a sole proprietary concern to a company, if — (i) the sole proprietary concern is succeeded by the company in the business carried on by it; (ii) all the assets and liabiliti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is framed in accordance with the guidelines issued by the Securities and Exchange Board of India or the Reserve Bank of India; (t) transfer of any investment asset, if— (i) the transferor is a company; and (ii) the asset of the company is distributed to its shareholders on its liquidation; (u) transfer of an investment asset being land of a sick industrial company made under a scheme sanctioned under section 18 of the Sick Industrial Companies (Special Provisions) Act, 1985 where such company is being managed by its worker co-operative; (v) transfer of any investment asset in a transaction of reverse mortgage under a scheme notified by the Central Government; (w) tran ..... X X X X Extracts X X X X X X X X Extracts X X X X
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