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of <h1>Short-term capital gains rules for transfers, redemptions, maturities of specified instruments; STT not deductible; computation X=A-B-C</h1> Gains arising on transfer, redemption or maturity of certain instruments are treated as short-term capital gains regardless of other provisions and are computed as X = A - B - C, where A is full consideration, B is cost of acquisition and C is related expenditure; securities transaction tax is not deductible. Covered assets include units of specified mutual funds acquired on or after 1 April 2023, market-linked debentures, and unlisted bonds or debentures maturing or transferred on or after 23 July 2024. 'Market Linked Debenture' and 'Specified Mutual Fund' are defined by reference to underlying debt linkage and a 65%-plus investment threshold in debt/money market instruments.
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