I had shares of an un-listed company " A" purchased ten years back in 2012. Now this company has got merged with an already listed company " B" of the same group with due approval from NCLT. Pursuant to this Composit Scheme of Amalgamation and Arrangement, I have been allocated shares of company B in lieu of my holding in company A. Is this a taxable event from income tax point of view? If yes, how the tax liability shall be calculated?
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Conversion of non-listed shares in to listed ones
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https://docs.google.com/document/d/1fJIL7PM9l863In6Uu25cxWz0ZFQS2ASeOBDO6qrf6PI/edit?usp=sharing
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