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Cash in lieu of fractional shares

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(Querist)
29 July 2014 pls tell what is the tax treatment for cash in lieu of fractional shares issued on the scheme of amalgamation
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Madav

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Madav (Expert)
29 July 2014 It will be considered as capital gain, and cost of acquisition will be decided based on the cost of share (before amalgamation) for which you are going to receive the cash
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vijji

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vijji (Querist)
29 July 2014 what is the effect for 47(vii) in this situation




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