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income tax s.94

This query is : Resolved 

20 September 2009 hi,
please provide provisions of section 94 clause 1 and 2 with the help of an example.

20 September 2009 As per section 94(1), if the owner of securities sells such securities and buy back the same and if the result of the transaction is that any income of such securities is receivable by the transferee ,such interest would be deemed to be the income of the transferor.


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