Capital loss can be carry Forwarded for indefinite period under Direct Tax Code

Posted: 08 Sep 2010 07:31 PM PDT

Computation of Capital Gains Capital asset concept changed to Investment Assets: The concept of 'investment asset' is made applicable to any undertaking or division of a business. As a result, slump sale would now be capital gain income unlike the earlier proposal of DTC (Direct Tax Code) which sought to tax it as business income .The term 'investment asset' also includes within its ambit any security held by a Foreign...

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