Capital gains inclusion: amendment extends tax exemption coverage to treat capital gains as part of income for specified entities. The amendment inserts the phrase Capital gains or after "Income from other sources or," thereby expanding the exemption provision to treat capital gains ... Summary
Capital gains inclusion: amendment extends tax exemption coverage to treat capital gains as part of income for specified entities.
The amendment inserts the phrase Capital gains or after "Income from other sources or," thereby expanding the exemption provision to treat capital gains as part of the income category covered, and makes that insertion retrospectively operative from the first day of April, 1979.
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