18 June 2016
stamp duty on corporate rearrangements is a contentious issue however to a large extent position stands settled in favour payability of stamp duty being a matter of 'conveyance'. Further a care needs to be taken of specific state list applicability and CG Notification 1 of 16th Jan 1937 to understand exactly the rate and status of application.
18 June 2016
The Indian Income-Tax Act refers to amalgamations to mean merger of one or more companies with another company or the merger of two or more companies to form another company. Implications under the Income Tax Act, 1961 Tax implications can be understood from the following three perspectives: a)Tax concessions to the Amalgamated (Buyer) Company b) Tax concessions to the Amalgamating (Seller) Company c) Tax concessions to the shareholders of an Amalgamating Company.
CAclubindia
