CA Final Student
699 Points
Joined February 2012
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.