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Long term capital gain

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08 May 2012 i have purchase a private ltd company share before 14th months ago, on december 2011 the pvt ltd company merge with a ltd company, and now i ready the ltd company share for sold. what is reflect my income tax return and is it tax free? and
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
09 May 2012 transfer of share in a scheme of amalgamation is not chargeable to capital gain if the consideration for the same is received only in the form of a share in the amalgamating company.

If cash is received in consideration of the share then the gain shall be chargeable to tax under the head Capital Gain.
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