Income Tax Act, 2025
Section 7: Ins. by Act 32 of 2003, s. 3 (w.e.f. 12004).
7. Ins. by Act 32 of 2003, s. 3 (w.e.f. 12004).
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1[(hb) in the case of a capital asset, being any specified security or sweat equity shares
allotted or transferred, directly or indirectly, by the employer free of cost or at concessional rate
to his employees (including former employee or employees), the period shall be reckoned from
the date of allotment or transfer of such specified security or sweat equity shares;]
2[(hc) in the case of a capital asset, being a unit of a business trust, allotted pursuant to
transfer of share or shares as referred to in clause (xvii) of section 47, there shall be included the
period for which the share or shares were held by the assessee;]
3[(hd) in the case of a capital asset, being a unit or units, which becomes the property of the
assessee in consideration of a transfer referred to in clause (xviii) of section 47, there shall be
included the period for which the unit or units in the consolidating scheme of the mutual fund
were held by the assessee;
(he) in the case of a capital asset, being share or shares of a company, which is acquired by
the non-resident assessee on redemption of Global Depository Receipts referred to in clause (b)
of sub-section (1) of section 115AC held by such assessee, the period shall be reckoned from the
date on which a request for such redemption was made;]
4[(hf) in the case of a capital asset, being equity shares in a company, which becomes the
property of the assessee in consideration of a transfer referred to in clause (xb) of section 47, there
shall be included the period for which the preference shares were held by the assessee;]
5[(hg) in the case of a capital asset, being a unit or units, which becomes the property of the
assessee in consideration of a transfer referred to in clause (xix) of section 47, there shall be included
the period for which the unit or units in the consolidating plan of a mutual fund scheme were held by
the assessee;]
(ii) In respect of capital assets other than those mentioned in clause (i), the period for which any
capital asset is held by the assessee shall be determined subject to any ruleswhich the Board may
make in this behalf.
6[Explanation 2.—For the purposes of this clause, the expression “security” shall have the
meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956
(42 of 1956).]
1[Explanation 3.—For the purposes of this clause, the expressions “specified security” and “sweat
equity shares” shall have the meanings respectively assigned to them in the Explanation to clause (d)
of sub-section (1) of section 115WB.]
in the case of a capital asset, being any specified security or sweat equity shares
allotted or transferred, directly or indirectly, by the employer free of cost or at concessional rate
to his employees (including former employee or employees), the period shall be reckoned from
the date of allotment or transfer of such specified security or sweat equity shares;]
2[
in the case of a capital asset, being a unit of a business trust, allotted pursuant to
transfer of share or shares as referred to in clause
of section 47, there shall be included the
period for which the share or shares were held by the assessee;]
3[
in the case of a capital asset, being a unit or units, which becomes the property of the
assessee in consideration of a transfer referred to in clause
of section 47, there shall be
included the period for which the unit or units in the consolidating scheme of the mutual fund
were held by the assessee;
in the case of a capital asset, being share or shares of a company, which is acquired by
the non-resident assessee on redemption of Global Depository Receipts referred to in clause
of sub-section
of section 115AC held by such assessee, the period shall be reckoned from the
date on which a request for such redemption was made;]
4[
in the case of a capital asset, being equity shares in a company, which becomes the
property of the assessee in consideration of a transfer referred to in clause
of section 47, there
shall be included the period for which the preference shares were held by the assessee;]
5[
in the case of a capital asset, being a unit or units, which becomes the property of the
assessee in consideration of a transfer referred to in clause
of section 47, there shall be included
the period for which the unit or units in the consolidating plan of a mutual fund scheme were held by
the assessee;]
In respect of capital assets other than those mentioned in clause
of section 2 of the Securities Contracts
Act, 1956
(42 of 1956).]
1[Explanation 3.—For the purposes of this clause, the expressions “specified security” and “sweat
equity shares” shall have the meanings respectively assigned to them in the Explanation to clause
of sub-section
of section 115WB.]