Capital asset Short term or long term - period of holding in case of equity shares in a company, the period for which the preference shares were held by the assessee in a Certain Case - Budget 2017-18 w.e.f. AY 2018-19
2 February, 2017
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Short-term capital asset definition extended to include preference share holding period when converted into equity shares. Amendment expands the definition of short-term capital asset so that equity shares received as consideration in a specified transfer include the period ... Summary
Short-term capital asset definition extended to include preference share holding period when converted into equity shares.
Amendment expands the definition of short-term capital asset so that equity shares received as consideration in a specified transfer include the period during which the assessee held the preference shares, thereby aggregating the preference shares' holding period with that of the equity shares for classification purposes.
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