TMI BlogNotifies the transactions of acquisition of equity share for the purpose of special rate of tax u/s 112AX X X X Extracts X X X X X X X X Extracts X X X X ..... t shall not apply, hereby notifies the transactions of acquisition of equity share entered into- (I) before the 1st day of October, 2004; or (II) on or after the 1st day of October, 2004 which are not chargeable to securities 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 T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or employee stock purchase scheme framed under the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines,1999; (v) by any non-resident in accordance with foreign direct investment guidelines of the Government of India; (vi) in accordance with Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011; (vii) from the Government; (viii) 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; and (ix) by mode of transfer referred to in secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in India in accordance with the Securities Contracts (Regulation) Act, 1956 and the rules made thereunder; (c) preferential issue and Qualified Institutional Buyer shall have the meanings respectively assigned to them in sub-regulation (1) of regulation 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; and (f) reco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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