In a move to encourage more investors to participate in reconstruction schemes, including Yes Bank and others approved by National Company Law Tribunal or are still pending with it, the government has exempted purchase of such shares at discounted prices from income tax.
- Our Partners , Suraj Nangia , Nangia Andersen LLP share their views on aforementioned story for following publications:
- Economic Times
- Times of India- Delhi Edition
- Business Standard
- Hindu Business Line
- Financial Express
- Livemint
- PTI
Attached are links to the story:
https://economictimes.indiatimes.com/markets/stocks/news/i-t-relief-on-purchase-of-discounted-shares-of-troubled-companies/articleshow/76705931.cms
https://www.livemint.com/money/personal-finance/cbdt-offers-tax-relief-for-government-s-rescue-of-mismanaged-companies-11593536755897.html
https://timesofindia.indiatimes.com/business/india-business/tax-sop-to-be-boon-for-sbi-in-yes-bank-rejig/articleshow/76718593.cms
https://www.financialexpress.com/economy/govt-amends-income-tax-rules-no-tax-on-discounted-shares-of-stressed-firms/2009074/
https://www.thehindubusinessline.com/news/relief-from-income-tax-for-investors-in-yes-bank-reconstruction-scheme-ilfs-resolution-plan/article31953233.ece
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