Long-term Capital Gains on debt oriented Mutual Fund and its qualification as Short-term capital asset - THE FINANCE (No. 2) BILL, 2014

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..... Long-term Capital Gains on debt oriented Mutual Fund and its qualification as Short-term capital asset - THE FINANCE (No. 2) BILL, 2014 - News and Press Release Dated:- 13-7-2014 - News - Long-term Capital Gains on debt oriented Mutual Fund and its qualification as Short-term capital asset The existing provisions contained in clause (42A) of section 2 of the Act provides that short-ter .....

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..... m capital asset means a capital asset held by an assessee for not more than thirty six months immediately preceding the date of its transfer. However, in the case of a share held in a company or any other security listed in a recognised stock exchange in India or a unit of the Unit Trust of India or a unit of a Mutual Fund or a zero coupon bond, the period of holding for qualifying it as short-ter .....

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..... m capital asset is not more than twelve months. The shorter period of holding of not more than twelve months for consideration as short-term capital asset was introduced for encouraging investment on stock market where prices of the securities are market determined. Accordingly, it is proposed to amend the aforesaid clause (42A) of section 2 so as to provide that an unlisted securi .....

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..... ty and a unit of a mutual fund (other than an equity oriented mutual fund) shall be a short-term capital asset if it is held for not more than thirty-six months. These amendments will take effect from 1st April, 2015 and will accordingly apply, in relation to the assessment year 2015-16 and subsequent assessment years. [Clause 3] - News - Press release - PIB Tax Management India - .....

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..... taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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