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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Section 50AA: Short-Term Capital Gains on Market Linked Debentures and Specified Mutual Funds from April 2024.</h1> Section 50AA, introduced by the Finance Act, 2023, effective April 1, 2024, addresses capital gains computation for Market Linked Debentures and units of Specified Mutual Funds acquired on or after April 1, 2023. The capital gains are calculated by deducting the acquisition cost and related expenses from the full value of consideration upon transfer, redemption, or maturity, classifying them as short-term capital gains. No deduction for securities transaction tax is allowed. Market Linked Debentures are securities with returns linked to market indices, and Specified Mutual Funds invest no more than 35% in domestic equity shares, calculated annually.
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