Ch 4 · M&A + AFM + Tax Integration

📘 Core concepts

1. 1M&A structures: merger, demerger, slump sale, share purchase, asset purchase — tax differs.
2. 2Section 2(1B) merger — tax neutrality conditions; Sec 47 exemptions.
3. 3Sec 72A — carry forward of losses on amalgamation (industrial undertakings).
4. 4Stamp duty + GST implications on slump sale / asset sale.
5. 5Valuation: DCF, market multiples, asset-based; Indian Companies Act Rule 11UA.