TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 111A: Short-term Capital Gains on Business Trust Units Now Taxable from April 2016 Onward.</h1> Clause 26 of the Finance Bill, 2015 proposes an amendment to section 111A of the Income-tax Act, which deals with tax on short-term capital gains. The amendment involves omitting the second proviso of sub-section (1), effective from April 1, 2016. Previously, this proviso exempted income from the transfer of business trust units, acquired in exchange for shares of a special purpose vehicle, from the provisions of section 111A. The removal of this proviso means that such income will now be subject to the section's provisions for the assessment year 2016-17 and onwards.
TaxTMI 
