Budget wish list to augment M&A activity

Mitesh Chauhan, Partner Sumeet Agrawal, Principal Associate of Economic Laws Practice (ELP) have co-authored an article titled ‘Budget wish list to augment M&A activity’. In their article, Mitesh and Sumeet discuss several issues including:

• Carry forward of tax losses on the merger of a transferor company in the services sector
• Exemption for Merger of overseas investee company / overseas subsidiaries
• Abolition of buyback tax under section 115QA
• Reduction in the dividend tax rate
• Specific provision for taxability of Capital reduction under Income Tax Act
• Removal of income/asset threshold for conversion of Company into LLP

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