Capital Gains S-50B

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Edward_xerox (Querist)
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29 October 2008 The concept is a bit confusing .
KIndly elaborate the occurance of Short term capital Gains on the transfer sale of undertaking.
Only expert advise ; no blunt read out S-50B from the ACT .

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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30 October 2008 What is the point of confusion please point out.

Edward_xerox

Edward_xerox (Querist)
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02 November 2008 If it goes this way !
the S-T-C-G arises only when the indentity of a particular asset is revealed while effecting the Slump sale otherwise the slump sale in it's treatment by default is taxable as L-T- C- G .
Important to notice if the identity of a particular asset is revealed ,then, depending upon the period of holding it is taxed as S-T-C-G or L-T-C-G as the case may be ; else the slump sale to attract onle L-T-C-G.
KIndly reply to the incidence of S-t-C-G & only L-T-C-G in it's impact .

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