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TMI BlogU/s 10(38) of IT Act 1961 - Central Government notifies all transactions of acquisition of equity share entered into on or after the 1st day of October, 2004X X X X Extracts X X X X X X X X Extracts X X X X ..... ties transaction tax under Chapter VII of the Finance (No. 2) Act, 2004 (23 of 2004), other than the following, namely :- (a) where acquisition of existing listed equity share in a company whose equity shares are not frequently traded in a recognised stock exchange of India is made through a preferential issue: Provided that nothing contained in this clause shall apply to acquisition of listed equity shares in a company:- (i) which has been approved by the Supreme Court, High Court, National Company Law Tribunal, Securities and Exchange Board of India or Reserve Bank of India in this behalf; (ii) by any non-resident in accordance with foreign direct investment guidelines issued by the Government of India; (iii) by an investment fund ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any non-resident in accordance with foreign direct investment guidelines of the Government of India; (vi) where acquisition of shares of company is made under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011; (vii) acquisition from the Government; (viii) acquisition by an investment fund referred to in clause (a) to Explanation 1 to section 115UB of the Income-tax Act or a venture capital fund referred to in clause (23FB) of section 10 of the income-tax Act or a Qualified Institutional Buyer; (ix) acquisition by mode of transfer referred to in sections 47 or 50B of the Income-tax Act, if the previous owner of such shares has not acquired them by any mode referred to in clause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. (d) "public financial institution" and "scheduled bank" shall have the meanings respectively assigned to them in Explanation to clause(viia) of sub-section (1) of section 36 of Income-tax Act. (e) "recognised stock exchange" shall have the same meaning assigned to it in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956. (f) "reconstruction company" and "securitisation company" shall have the meanings respectively assigned to them in sub-section (1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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