Income-tax (6th Amendment) Rules, 2016 - Method of determination of period of holding of capital assets, being a share or debenture of a company, which becomes the property of the assessee in the circumstances mentioned in clause (x) of section 47. - 18/2016 - Income Tax
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Period of holding for converted securities includes prior bond or debenture holding, affecting capital gains characterisation. The rule prescribes that where a capital asset in the form of a share or debenture becomes the assessee's property by reason of the specified transfer, the period of holding of that capital asset shall include the period for which the bond, debenture, debenture stock or deposit certificate was held by the assessee prior to conversion.
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.
Period of holding for converted securities includes prior bond or debenture holding, affecting capital gains characterisation.
The rule prescribes that where a capital asset in the form of a share or debenture becomes the assessee's property by reason of the specified transfer, the period of holding of that capital asset shall include the period for which the bond, debenture, debenture stock or deposit certificate was held by the assessee prior to conversion.
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