technology fund

The Finance Act, 2004 introduced section 111A in the Income-tax Act, 1961 (the Act) prescribing a tax rate of 10 percent on Short Term Capital Gains (STCG) arising from sale of shares on or after 1 October 2004 on a stock exchange which are subject to Securities Transaction Tax (STT). Full Article

The Income-tax Appellate Tribunal (“the Tribunal”)  , in the case of First State Investments (Hongkong) Ltd. A/c  First State Asia Innovation and Technology Fund1 (“the  assessee”), examined the manner of set-off of short- term capital loss suffered from sale transactions subject  to Securities  Transaction Tax (”STT”) against short- term capital gains arising prior to introduction of [...] Full Article