Long-term specified securities designation conditions investment from capital gains and taxes early disposal as capital gains. The notification designates certain equity shares as long-term specified securities under section 44EA where the investment is made out of net consideration from transfer of a long-term capital asset; if the assessee transfers or converts the allotted equity into money or otherwise disposes of it within a prescribed holding period from allotment, the initial investment in each equity share is chargeable to tax under the head 'Capital gains' pursuant to the section.
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.
Long-term specified securities designation conditions investment from capital gains and taxes early disposal as capital gains.
The notification designates certain equity shares as long-term specified securities under section 44EA where the investment is made out of net consideration from transfer of a long-term capital asset; if the assessee transfers or converts the allotted equity into money or otherwise disposes of it within a prescribed holding period from allotment, the initial investment in each equity share is chargeable to tax under the head "Capital gains" pursuant to the section.
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