Specified asset definitions classify nonprofit acquisitions, Indian company investments, government securities, and historic capital-gains reinvestment instruments.

Specified asset for non-profit organisation purposes covers an asset established as directly acquired from prescribed income, including assets acquired before registration became effective under the stated conditions. In a dissolution case, it includes an asset transferred to another specified person within twelve months after the end of the month of dissolution. For non-resident investment taxation, specified assets include shares, qualifying debentures and deposits of Indian companies, Central Government securities, and other notified assets.

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