https://www.taxtmi.com/article/detailed?id=12827 The Finance Bill fixes 23 July 2024 as the cutoff date for different tax rates and holding period treatments for long term and short term capital gains, and amends the definition of short term capital asset accordingly. This bifurcation requires precise evidence of the date of transfer, changes to reporting and computation formats, impacts depository and intermediary reporting, and alters advance tax installment calculations and interest exposure, creating potential disputes over the factual date of transfer-particularly for securities where contract date and settlement (e.g., T+1) may diverge. en-us Sat, 27 Jul 2024 09:58:49 +0530 Sat, 27 Jul 2024 09:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12827 The Finance Bill fixes 23 July 2024 as the cutoff date for different tax rates and holding period treatments for long term and short term capital gains, and amends the definition of short term capital asset accordingly. This bifurcation requires precise evidence of the date of transfer, changes to reporting and computation formats, impacts depository and intermediary reporting, and alters advance tax installment calculations and interest exposure, creating potential disputes over the factual date of transfer-particularly for securities where contract date and settlement (e.g., T+1) may diverge. Articles Income Tax Sat, 27 Jul 2024 09:58:49 +0530 https://www.taxtmi.com/article/detailed?id=12827