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Vinod gpta summary query
in vg sr smmary pg no 8 unit f bus trust is said to qyalify as a stca if its less thn 36 mnths bt sec 111 a its given as 12 mnths is dere a mistake in printing ... it does happen usually ...plz smone clarify
Replies (4)
Hi mohd shafey
There is no misprinting in the book, for units of Buss Trust to qualify as Short Term, the period is not more than 36mnths and sec 111A is all about that on which all instruments Sec 111A applies i.e on which all instruments Tax rate ll be 15%.
Therefore if u transfer the units of buss trust holding it not more than 36mnths, the tax rate is 15% and not the normal tax rates which is applicable to the assessee.
thx a lot bro ...sir mst hav told ths in class ..cudnt recllct ...exam pressure u knw ... that was a great explaination ... bst f lck fr ur exams
just one clarifction ... if u hold unit f bt less thn 12 mnth acc to 111a it is 15% then u hold it frm 12 to 36 mnth it shud be. nrmal rates na ... and ftr tht 20 % u said below 36 it will b 15 .. did i get it wrong smhw
ok got it .. u r r8 ..
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