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of <h1>Clause 48 of Direct Taxes Code, 2010: Taxable Year for Investment Asset Transfers and Related Income Events Explained</h1> Clause 48 of the Direct Taxes Code, 2010, specifies the financial year in which income from the transfer of certain investment assets is taxable. The clause outlines various scenarios, such as conversion of investment assets into business assets, changes in shareholding, non-compliance with specified conditions, compulsory acquisitions, and slump sales, determining the financial year of taxability based on when these events occur. Additionally, it addresses income from insurance claims, retirement distributions, company liquidations, and beneficial interest transfers, specifying the financial year in which such income is deemed taxable.
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