Long-term specified securities designation limits issuance and ties investment to capital gains with a mandatory holding condition. Certain equity shares of a specified public company are designated as long-term specified securities where issued within one year and funded from net consideration of a long-term capital asset transfer; if these shares are transferred or converted into money within three years of allotment, the initial investment is chargeable to tax as capital gains.
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 limits issuance and ties investment to capital gains with a mandatory holding condition.
Certain equity shares of a specified public company are designated as long-term specified securities where issued within one year and funded from net consideration of a long-term capital asset transfer; if these shares are transferred or converted into money within three years of allotment, the initial investment is chargeable to tax as capital gains.
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