Why Godrej family's billion-dollar business restructuring won't attract tax?
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The Godrej Group, a 127-year-old family-owned conglomerate, has recently declared its decision to split into two separate entities. This strategic move, led by the third generation of the Godrej family, involves a multi-billion-dollar settlement that will not attract any capital gains tax. Insiders privy to the developments have told Moneycontrol that the Godrej Group has opted for a 'family arrangement' under tax law, which is exempt from capital gains tax provisions of the Income Tax Act.