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of <h1>Repatriates from Uganda: Sales up to Rs. 50,000 assessed as long-term capital gains under Income Tax Act, 1961. No extra documents needed.</h1> The circular addresses the assessment of repatriates from Uganda under the Income Tax Act, 1961. It states that the sale of goods brought by repatriates, up to Rs. 50,000, will be considered for capital gains determination. Income Tax Officers are instructed not to require documentary evidence from repatriates to prove that the goods were held long enough to be classified as long-term capital assets. Consequently, profits from such sales will be assessed as long-term capital gains. Relevant instructions are to be issued to ensure compliance with these guidelines during assessments.
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