as per section 47 if in a scheme of amalgamation any transfer of capital assest is made by amalgamating company to the amalgamated company then it is not treated as transfer....
but what is capital asset for the amalgamating company here???
Menu
section 47 amalgamatiom clause
Replies (3)
Capital asset for the amalgamating company is the same before amalgamation. But since transfer of such capital asset is not regarded as transfer, then any gain/loss arising from such transfer shall not be chargeable u/h capital gain.
Go through definition of Capital asset
the fixed assets stood in the name of amalgamating company immediately before the date of amalgamation is the capital asset and transfer of such capital asset to amalgamated company not treated as transfer as per section 47
Recent Topics :
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
- Online PAN Download: Check How?
- Demand of Late fee/Interest under section 75 of GS
- DSC registration on TRACES portal
- Can we get registered for MCA if we get a Virtual
- DONATION PAYMENT REG
- GST IDS Refund – Statement 01A: Invoice Not
- TDS deposit code & TDS return
Related Topics :
CAclubindia
