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of <h1>Income Tax Bill Clause 76: Short-Term Capital Gains Tax on Market Linked Debentures, Overrides Existing Provisions, Ensures Fair Taxation.</h1> Clause 76 of the Income Tax Bill, 2025, introduces specific provisions for calculating capital gains on Market Linked Debentures (MLDs), treating all gains as short-term regardless of the holding period. This aims to standardize tax treatment, prevent tax avoidance, and ensure fair taxation of speculative investments. It overrides certain existing provisions, defines relevant capital assets, and provides a formula for gain computation. It also disallows securities transaction tax deductions. While similar to Section 50AA of the Income Tax Act, 1961, Clause 76 has a broader scope, including unlisted bonds and debentures, reflecting updated policy considerations.
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