https://www.taxtmi.com/acts?id=43546 The Bill amends the Income-tax Act definitions: the definition of dividend is widened to include company payments for purchase of its own shares from a shareholder under the Companies Act purchase provision, effective 1 October 2024. The definition of short-term capital asset is changed by reducing the holding-period threshold from thirty-six months to twenty-four months, the first proviso is aligned to that period, specified wording is inserted into the second proviso as it previously stood, and the third proviso is omitted; these changes are retrospective to the stated date in July 2024. en-us Tue, 23 Jul 2024 15:26:53 +0530 Tue, 23 Jul 2024 15:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43546 The Bill amends the Income-tax Act definitions: the definition of dividend is widened to include company payments for purchase of its own shares from a shareholder under the Companies Act purchase provision, effective 1 October 2024. The definition of short-term capital asset is changed by reducing the holding-period threshold from thirty-six months to twenty-four months, the first proviso is aligned to that period, specified wording is inserted into the second proviso as it previously stood, and the third proviso is omitted; these changes are retrospective to the stated date in July 2024. Act-Rules Bills Tue, 23 Jul 2024 15:26:53 +0530 https://www.taxtmi.com/acts?id=43546