Deduction for investment asset transfers: full or partial relief for STT charged equity; indexed cost and rollover relief for long term assets. Allowable deductions on transfer of an investment asset are cost of acquisition, cost of improvement and transfer expenses. Equity shares or units subject to securities transaction tax receive percentage deductions of computed income depending on holding period-full deduction if held over one year, partial deduction if held one year or less-with symmetric treatment of negative income. Other investment assets transferred after more than one year from the end of the financial year of acquisition permit deductions for indexed cost of acquisition, indexed cost of improvement, transfer expenses and rollover relief under section 55.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for investment asset transfers: full or partial relief for STT charged equity; indexed cost and rollover relief for long term assets.
Allowable deductions on transfer of an investment asset are cost of acquisition, cost of improvement and transfer expenses. Equity shares or units subject to securities transaction tax receive percentage deductions of computed income depending on holding period-full deduction if held over one year, partial deduction if held one year or less-with symmetric treatment of negative income. Other investment assets transferred after more than one year from the end of the financial year of acquisition permit deductions for indexed cost of acquisition, indexed cost of improvement, transfer expenses and rollover relief under section 55.
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