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Section
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Description
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Cost
in the hands of the transferee
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46(1)
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Distribution
of asset in kind by a company to its shareholders at the time of
liquidation.
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Market
Value of the asset on the date of distribution.
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47(i)
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Distribution
of Capital Asset on total or partial partition of a Hindu Undivided
Family
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Cost
to the Previous Owner.
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47(iii)
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Transfer
of Capital asset under a gift or will or an irrevocable trust.
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Cost
to the Previous Owner
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47(iv)
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Transfer
of Capital asset by a Company to its 100% subsidiary company.
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Cost
to the Previous Owner
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47(v)
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Transfer
of Capital asset by a Subsidiary Company to its 100% Holding company.
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Cost
to the Previous Owner
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47(vi)
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Transfer
of capital asset in a scheme of amalgamation
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Cost
to the Previous Owner
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47(via)
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Transfer
of shares of an Indian company held by a foreign company to another
foreign company in scheme of amalgamation of two foreign companies.
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Cost
to the Previous Owner
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47(viaa)
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Transfer
of capital asset in a scheme of amalgamation of banking company with a
banking institution.
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Cost
to the Previous Owner
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47(vib)
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Transfer
in a demerger of a capital asset by the demerged company to resulting
company.
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Cost
to the Previous Owner
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47(vic)
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Transfer
of shares held in an Indian company by a demerged foreign company to the
resulting foreign company.
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-
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47(vid)
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Transfer
or issue of shares by the resulting company in a scheme of demerger to
the shareholders of the demerged company
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Proportionate
cost of acquisition of shares in demerged company
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47(vii)
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Allotment
of shares in an amalgamated company in lieu of shares held in
amalgamating company.
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Cost
of shares in amalgamating company.
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47(viia)
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Transfer
of Capital asset (being foreign currency convertible bonds or GDR) by a
non resident to another non resident.
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-
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47(viii)
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Transfer
of Agricultural land in India before March 1st’ 1970.
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-
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47(ix)
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Transfer
of Capital asset (being work of art, manuscript, painting etc.) to
Govt./ University/ National Museum etc.
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-
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47(x)
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Transfer
by way of Conversion of Bonds or Debentures into Shares.
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Cost
of shares would be the cost of bonds/ debentures.
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47(xi)
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Transfer
by way of exchange of a Capital asset being membership of a recognized
stock exchange for shares of a company.
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47(xii)
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Transfer
of land by a sick industrial company which is managed by its workers’
co-operative.
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47(xiii)
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Transfer
of a Capital asset by a firm to a company in case of conversion of firm
into a company.
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47(xiiia)
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Transfer
of capital asset, being a membership right held by a member of a
recognized stock exchange in India.
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Cost
of acquisition would be acquisition cost of original membership of the
exchange.
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47(xiv)
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Transfer
of capital asset to company in the case of conversion of a proprietary
concern into a company
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47(xv)
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Transfer
involved in a scheme of lending securities.
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