Govt amends income-tax rules: No tax on discounted shares of stressed firms

Govt amends income-tax rules: No tax on discounted shares of stressed firms

The government has amended income-tax rules to ensure that no tax liability arises for a person from receipt of unquoted shares of firms, whose resolution plans have been approved by NCLT. The move is aimed at drawing more investors to participate in rescue schemes of stressed companies, including IL&FS and Yes Bank.

Read more at 
The Financial Express

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