No capital gains Tax on conversion of preference shares into equity w.e.f AY 2018-19
No capital gains Tax on conversion of preference shares into equity [Section 47 of Income tax Act- Applicable from Assessment Year 2018-19 (Financial Year 2017-18) ] Under the existing provisions of the Act, conversion of security from one form to another is regarded as transfer for the purpose of levy of capital gains tax. However,… Read More »