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New Provisions under the Act
from Taxmann's Budget Marathon | Personal Taxation | Saraswathi Kasturirangan – Partner | Deloitte India
by Taxmann
Electronic gold receipt
• Conversion of physical gold into EGR (issued by a Vault Manager) and vice versa not to be considered as a “transfer” for capital gains purposes
• Holding period of EGR/gold to include the holding period of the gold prior to conversion/EGR, respectively
• Cost of acquisition of EGR/gold to be deemed to be the cost of the gold prior to conversion/EGR, respectively
Taxation of market linked debentures
‘Market Linked Debentures’ are listed securities. They are currently being taxed as long term capital gain at the rate of 10% without indexation
However going forward it has been proposed to treat any gain from sale or redemption of these debentures as Short Term Capital Gain and shall be taxed at applicable rates –Section 50AA
