4 replies on this article “Long-Term Capital Gains – Direct Tax Code”

1. ashal jauhari says:

   March 25, 2011 at 12:25 am

   Dear Ram, yes the calculation of holding period is to be done from the end of FY as per the current form of revised DTC but it’s yet to be passed as an act by parliament & there may still be some changes here & there in DTC.

   For persons/investors who are holding for real long terms say 10+ years, these limitations as proposed in DTC are not any hurdle.

   Thanks

   Ashal

   Reply
   1. Ram says:

      March 25, 2011 at 12:08 pm

      Thanks Ashal. I guess things will be fully clear after the final DTC comes. Hopefully they will change this holding period definition because it doesn’t do any good for the people.

      Regards,
      Ram.

      Reply
2. ashal jauhari says:

   March 23, 2011 at 11:49 pm

   Dear Ram, the LTCG from Eq. & Eq. MFs ‘ll remain tax free like the present system.

   LTCG from Debt MFs & other asset class, ‘ll remain taxable although with a new indexation series effective from 2001.

   Thanks

   Ashal

   Reply
   1. Ram says:

      March 24, 2011 at 11:12 pm

      Ashal,

      Thanks for your reply.

      The definition of “long term” will depend on the new definition of “holding period” right? So holding period will be calculated from the end of FY in which the purchase was made, right? Or has this changed after review?

      Thanks,
      Ram.

      Reply

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