https://www.taxtmi.com/manuals?id=4429 Anti-avoidance rules on bond washing transactions deem interest on securities to be the income of the original owner where the owner sells or transfers securities before interest becomes payable and later buys back or reacquires the same or similar securities. The deeming fiction applies even if the interest is actually received by another person, and similar securities are treated on the same footing as the original securities so that no greater tax liability arises merely because the reacquisition is of similar securities rather than identical securities. The Assessing Officer may issue a written notice requiring information relating to securities, with at least twenty-eight days for compliance. en-us Thu, 18 Jan 2024 17:50:00 +0530 Wed, 08 Jul 2026 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4429 Anti-avoidance rules on bond washing transactions deem interest on securities to be the income of the original owner where the owner sells or transfers securities before interest becomes payable and later buys back or reacquires the same or similar securities. The deeming fiction applies even if the interest is actually received by another person, and similar securities are treated on the same footing as the original securities so that no greater tax liability arises merely because the reacquisition is of similar securities rather than identical securities. The Assessing Officer may issue a written notice requiring information relating to securities, with at least twenty-eight days for compliance. Manuals Income Tax Thu, 18 Jan 2024 17:50:00 +0530 https://www.taxtmi.com/manuals?id=4429