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of <h1>New CBDT Circular Clarifies Tax Treatment for Sale of Shares: Business Income or Capital Gains?</h1> The Central Board of Direct Taxes issued Circular No. 6/2016 to clarify the tax treatment of surplus from the sale of shares and securities, aiming to reduce litigation. It specifies that income from listed shares and securities treated as stock-in-trade by the assessee will be considered business income. If held for over 12 months and treated as capital gains by the assessee, it will not be disputed by Assessing Officers. This stance must remain consistent across assessment years. The circular excludes transactions with questionable genuineness and emphasizes maintaining consistency to reduce disputes.
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