Transcription of Circular No.6/2016 Government of India - Central …
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,NewDelhi,the29t hofFebruary, 2016 Sub: Issueoftaxabilityofsurpluson saleofshares andsecurities- Capital Gainsor BusinessIncome -Instructionsinorderto reducelitigation- (14)ofSection 2oftheIncome-taxAct, 1961('Act')defines theterm"capitalasset" to includepropertyofany kind held by anassessee,whetheror notconnectedwithhisbusiness orprofession,butdoesnotinclude anystock-in-tradeor personal assetssubjecttocertainexceptions. As regards shares andothersecurities, the same can be heldeitheras capitalassets orstock-in-trade/tradingassets or particularinvestmentinshares orothersecurities,whetherthe same is in thenatureofa capitalasset orstock-in-trade, isessentially afact-specificdeterminationand has led to alototu
Circular No.6/2016 Government of India MinistryofFinance Department ofRevenue Central Board ofDirectTaxes North Block, New Delhi, the 29th ofFebruary, 2016 Sub: Issue of taxability of surplus on sale of shares and securities - Capital Gains or Business
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