Proposed Amendment to Section 55: Clarification on Cost of Acquisition for Equity Shares in OFS and IPOs

Last updated: 26 July 2024 Follow on Google News

Amendment of Section 55 of the Act Prior to Finance Act, 2018, section 10(38) of the Income Tax Act, 1961 (the Act) provided for exemption in respect of gains arising from the transfer of a long-term capital asset, being an equity share in a company or a unit of an equity oriented fund or a unit of

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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