TMI BlogTax on short term capital gains in certain casesX X X X Extracts X X X X X X X X Extracts X X X X ..... equity share in a company or a unit of an equity oriented fund 4 [or a unit of a business trust] and- ( a ) the transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No. 2) Act, 2004 comes into force; and ( b ) such transaction is chargeable to securities transaction tax under that Chapter, the tax payable by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... computed at the rate of 3 [ fifteen per cent ] . 7 [Provided further that nothing contained in clause (b) shall apply to a transaction undertaken on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in foreign currency.] 6 [***] (2) Where the gross total income of an assessee include ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Provided further that the provisions of this sub-section shall not apply in respect of any income arising from transfer of units of a business trust which were acquired by the assessee in consideration of a transfer as referred to in clause (xvii) of section 47. ] 7. Inserted vide THE FINANCE ACT, 2016 w.e.f. 1st day of April, 2017 8. Substituted vide THE FINANCE ACT, 2016 w.e.f. 1st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall have the meaning assigned to it in 9 [ clause (a) of the Explanation to section 112A ] ; (b) International Financial Services Centre shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005; (28 of 2005.) (c) recognised stock exchange shall have the meaning assigned to it in clause (ii) of Explanation 1 to sub-section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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