Types of Capital Asset

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..... ior to its date of transfer. However, A. As per the first proviso in the following cases, an asset held for not more than [ 12 months 24 month ( w.e.f. 23-07-2024 Substituted vide Finance (No. 2) Act, 2024 ] , is treated as short term capital asset (i) a security [ (other than a unit) ( w.e.f. 23-07-2024 Omitted vide Finance (No. 2) Act, 2024 ] listed in a recognised stock exchange in India; (ii) .....

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..... f such fund is invested in the equity shares of domestic companies listed on a recognised stock exchange. The percentage of equity shareholding or unit held in respect of the fund, as the case may be, shall be computed with reference to the annual average of the monthly averages of the opening and closing figures. In case of a scheme of an insurance company comprising unit linked insurance policie .....

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..... Government may, by notification in the Official Gazette, specify in this behalf. [ Section 2(48) ] B. Unlisted shares of a company shall be treated as short term capital asset if these are held for not more than 24 months ( instead of 36 months) immediately preceding the date of transfer. (Third proviso to sec 2(42A) ) [ w.e.f. 23-07-2024 Omitted vide Finance (No. 2) Act, 2024 ] C . Immovable pro .....

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..... ceding the date of its transfer is a long-term capital asset. Applicability of tax on capital gain in the hands of unit holder where the term of the units of mutual fund under the fixed maturity plans has been extended [ Circular No. 06/2015 dated 09.04.2015 ] FMPs are closed ended funds having a fixed maturity date wherein the duration of investment is decided upfront. prior to the amendment made .....

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..... the duration of the FMPs to a date beyond 36 months from the date of the original investment by providing to the investor an option of roll-over of FMPs in accordance with the provisions or regulation 33(4) of the SEBI (Mutual Funds) Regulation 1996. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagementindia - taxmanagement - tax .....

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