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TMI BlogTax on short term capital gains in certain casesX X X X Extracts X X X X X X X X Extracts X X X X ..... hare in a company or a unit of an equity oriented fund 4 [or a unit of a business trust] and- ( a ) the transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No. 2) Act, 2004 comes into force; and ( b ) such transaction is chargeable to securities transaction tax under that Chapter, 11 [ the tax payable by the assessee on the tot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reduced falls short of the maximum amount which is not chargeable to income-tax and the tax on the balance of such short-term capital gains shall be computed at the 12 [ rate as applicable in clause (i) ] . 7 [Provided further that nothing contained in clause (b) shall apply to a transaction undertaken on a recognised stock exchange located in any International Financial Services Centre and where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... E ACT, 2015 w.e.f. 1st day of April, 2016, before it was read as, 5 [ Provided further that the provisions of this sub-section shall not apply in respect of any income arising from transfer of units of a business trust which were acquired by the assessee in consideration of a transfer as referred to in clause (xvii) of section 47. ] 7. Inserted vide THE FINANCE ACT, 2016 w.e.f. 1st day of April, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riented fund shall have the meaning assigned to it in 9 [ clause (a) of the Explanation to section 112A ] ; (b) International Financial Services Centre shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005; (28 of 2005.) (c) recognised stock exchange shall have the meaning assigned to it in clause (ii) of Explanation 1 to sub-section (5) o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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