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Period of holding for 47(xa) capital assets?


Priyasmita Ray   21 August 2019

Priyasmita Ray

 5 points

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Should the period of holding for the original bond be ignored since there is no specific provision for the calculation of period of holding in Sec 2(42A) for the conversion of assets covered under Sec 115AC into shares/debentures of any company?

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Kapadia Pravin   21 August 2019

Kapadia Pravin

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47(xa) provides that transactions under this are not regarded as transfer and hence nothing contained in section 45 is applies

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