Quick Summary
Amendment of Definition of 'Capital Asset' Section 2(14) of the Act defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock in-trade or personal assets as provided in the definitio
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The amendment aims to provide certainty regarding the characterisation of income from securities held by investment funds, clarifying whether it's capital gain or business income.
Securities held by investment funds, when invested in accordance with SEBI regulations, will be treated solely as capital assets.
Any income arising from the transfer of such securities will be in the nature of capital gain.
The amendment will take effect from the 1st day of April, 2026.
It will apply to the assessment year 2026-27 and all subsequent assessment years.
CAclubindia
