Tag Archives: CIRCULAR NO 4/2007

CIRCULAR NO 4/2007 : Shares are stock in trade or Investments

By | June 15, 2017

CIRCULAR NO 4/2007 SECTION 28(I) OF THE INCOME-TAX ACT, 1961 :  DISTINCTION BETWEEN SHARES HELD AS STOCK-IN-TRADE AND SHARES HELD AS INVESTMENTS  CIRCULAR NO 4/2007, DATED 15-6-2007 1. The Income-tax Act, 1961 makes a distinction between a “capital asset” and a “trading asset”. 2. Capital asset is defined in section 2(14) of the Act. Long-term capital assets and gains are… Read More »