Section 70(1)(h) in The Income Tax Act, 2025

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Union of India - Subsection

Section 70(1)(h) in The Income Tax Act, 2025

(h)in a scheme of amalgamation, of a capital asset, being a share of a foreign company, referred to in section 9(10)(a), which derives directly or indirectly, its value substantially from the share or shares of an Indian company, held by the amalgamating foreign company to the amalgamated foreign company, if—

(i)at least 25% of the shareholders of the amalgamating foreign company continue to remain shareholders of the amalgamated foreign company; and

(ii)such transfer does not attract tax on capital gains in the country in which the amalgamating company is incorporated;

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Union of India - Subsection

Section 70(1)(h) in The Income Tax Act, 2025