Capital gains treatment: full consideration on transfer or redemption of specified mutual fund units and unlisted debentures deemed short-term gains. The amendment deems the full value of consideration received on transfer, redemption or maturity of certain units, Market Linked Debentures, unlisted bonds or unlisted debentures, reduced only by cost of acquisition and transfer-related expenditure, to be capital gains arising from the transfer of a short-term capital asset; it also revises the definition of Specified Mutual Fund to cover funds that principally invest in debt and money market instruments or units of such funds, with percentage computed by annual average of daily closings and inclusion of securities classified by the securities regulator as debt and money market instruments.
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.
Capital gains treatment: full consideration on transfer or redemption of specified mutual fund units and unlisted debentures deemed short-term gains.
The amendment deems the full value of consideration received on transfer, redemption or maturity of certain units, Market Linked Debentures, unlisted bonds or unlisted debentures, reduced only by cost of acquisition and transfer-related expenditure, to be capital gains arising from the transfer of a short-term capital asset; it also revises the definition of Specified Mutual Fund to cover funds that principally invest in debt and money market instruments or units of such funds, with percentage computed by annual average of daily closings and inclusion of securities classified by the securities regulator as debt and money market instruments.
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