https://www.taxtmi.com/article/detailed?id=458 Section 94(7) disallows losses arising from purchase of securities or units shortly before a record date and sale shortly thereafter to the extent of the exempt dividend or income, and section 94(8) treats disallowed loss on sale of original mutual fund units after allotment of bonus units as part of the cost of those bonus units; the Finance (No.2) Act 2004 lengthened post record holding requirements for mutual fund units and tightened bonus stripping rules for units, while bonus issues of company shares remain subject to earlier, shorter holding periods, creating a drafting anomaly and compliance concerns. en-us Wed, 12 Aug 2009 00:00:00 +0530 Mon, 03 Jan 2011 18:58:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=458 Section 94(7) disallows losses arising from purchase of securities or units shortly before a record date and sale shortly thereafter to the extent of the exempt dividend or income, and section 94(8) treats disallowed loss on sale of original mutual fund units after allotment of bonus units as part of the cost of those bonus units; the Finance (No.2) Act 2004 lengthened post record holding requirements for mutual fund units and tightened bonus stripping rules for units, while bonus issues of company shares remain subject to earlier, shorter holding periods, creating a drafting anomaly and compliance concerns. Articles Income Tax Wed, 12 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=458