Merger with company of whose shares held as inventories
This query is : Resolved
06 August 2020
Dear experts please help me in this query. A company is holding shares of another company as inventories. Now that wants to get merged with the company of whose shares it is holding as inventories. So ultimately after the merger the shares will get cancelled. So what will be the implication this scheme under Income Tax Act.
09 August 2020
No implications on the mergers. Income Tax needs to be paid on Income generated by the organisations.
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