Section 45(2A) - Transfer of beneficial interest in securities

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..... cial interest in respect of securities shall be chargeable to income-tax as the income of the beneficial owner of the previous year in which such transfer took place and shall not be regarded as income of the depository who is deemed to be the registered owner of securities by virtue of section 10(1) of the Depositories Act, 1996. Full value of consideration and period of holding For the purposes .....

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..... o the transfer deeds. Similarly , in respect of the purchases of the securities, the holding period shall be reckoned to take place directly between the parties and not through stock exchanges. The date of contract of sale as declared by the parties shall be treated as the date of transfer provided it is followed up by actual delivery of share and the transfer deeds. Where securities are required .....

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