https://www.taxtmi.com/acts?id=6996 The Securities Lending Scheme allows an approved intermediary to accept securities from a lender and lend equivalent securities to a borrower under separate agreements, with title resting with the borrower and the lender receiving an agreed fee; agreements must address period, fees, collateral, return (including premature return), and arbitration. Because shares are fungible, receiving equivalent shares of the same company with different distinctive numbers does not constitute an exchange of different assets and thus does not amount to transfer under section 2(47) of the Income-tax Act for capital gains purposes. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 05 Mar 2009 11:21:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6996 The Securities Lending Scheme allows an approved intermediary to accept securities from a lender and lend equivalent securities to a borrower under separate agreements, with title resting with the borrower and the lender receiving an agreed fee; agreements must address period, fees, collateral, return (including premature return), and arbitration. Because shares are fungible, receiving equivalent shares of the same company with different distinctive numbers does not constitute an exchange of different assets and thus does not amount to transfer under section 2(47) of the Income-tax Act for capital gains purposes. Act-Rules Direct Taxes Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6996