Income Tax Act, 2025
Section 14: Ins. by Act 7 of 2017, s. 3 (we.f. 12018).
14. Ins. by Act 7 of 2017, s. 3 (we.f. 12018).
15. Existing Explanation renumbered as Explanation 1 by Act 32 of 1994, s. 3 (w.e.f. 11995).
49
(b) in the case of a capital asset which becomes the property of the assessee in the
circumstances mentioned in 1[sub-section (1)] of section 49, there shall be included the period for
which the asset was held by the previous owner referred to in the said section;
2[(ba) in the case of a capital asset referred to in clause (via) of section 28, the period shall be
reckoned from the date of its conversion or treatment;]
3[(c) in the case of a capital asset being a share or shares in an Indian company, which
becomes the property of the assessee in consideration of a transfer referred to in clause (vii)
of section 47, there shall be included the period for which the share or shares in the amalgamating
company were held by the assessee;]
4[(d) in the case of a capital asset, being a share or any other security (hereafter in this clause
referred to as the financial asset) subscribed to by the assessee on the basis of his right to
subscribe to such financial asset or subscribed to by the person in whose favour the assessee has
renounced his right to subscribe to such financial asset, the period shall be reckoned from the date
of allotment of such financial asset;
(e) in the case of a capital asset, being the right to subscribe to any financial asset, which is
renounced in favour of any other person, the period shall be reckoned from the date of the offer of
such right by the company or institution, as the case may be, making such offer;]
5[(f) in the case of a capital asset, being a financial asset, allotted without any payment and on
the basis of holding of any other financial asset, the period shall be reckoned from the date of the
allotment of such financial asset;]
6[(g) in the case of a capital asset, being a share or shares in an Indian company, which
becomes the property of the assessee in consideration of a demerger, there shall be included the
period for which the share or shares held in the demerged company were held by the assessee;]
7[(h) in the case of a capital asset, being trading or clearing rights of a recognised stock
exchange in India acquired by a person pursuant to demutualisation or corporatisation of the
recognised stock exchange in India as referred to in clause (xiii) of section 47, there shall be
included the period for which the person was a member of the recognised stock exchange in India
immediately prior to such demutualisation or corporatisation;
(ha) in the case of a capital asset, being equity share or shares in a company allotted pursuant
to demutualisation or corporatisation of a recognised stock exchange in India as referred to in
clause (xiii) of section 47, there shall be included the period for which the person was a member
of the recognised stock exchange in India immediately prior to such demutualisation or
corporatisation;]
in the case of a capital asset which becomes the property of the assessee in the
circumstances mentioned in 1[sub-section
in the case of a capital asset referred to in clause
of section 28, the period shall be
reckoned from the date of its conversion or treatment;]
3[
in the case of a capital asset being a share or shares in an Indian 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 share or shares in the amalgamating
company were held by the assessee;]
4[
in the case of a capital asset, being a share or any other security (hereafter in this clause
referred to as the financial asset) subscribed to by the assessee on the basis of his right to
subscribe to such financial asset or subscribed to by the person in whose favour the assessee has
renounced his right to subscribe to such financial asset, the period shall be reckoned from the date
of allotment of such financial asset;
in the case of a capital asset, being the right to subscribe to any financial asset, which is
renounced in favour of any other person, the period shall be reckoned from the date of the offer of
such right by the company or institution, as the case may be, making such offer;]
5[
in the case of a capital asset, being a financial asset, allotted without any payment and on
the basis of holding of any other financial asset, the period shall be reckoned from the date of the
allotment of such financial asset;]
6[
in the case of a capital asset, being a share or shares in an Indian company, which
becomes the property of the assessee in consideration of a demerger, there shall be included the
period for which the share or shares held in the demerged company were held by the assessee;]
7[
in the case of a capital asset, being trading or clearing rights of a recognised stock
exchange in India acquired by a person pursuant to demutualisation or corporatisation of the
recognised stock exchange in India as referred to in clause
of section 47, there shall be
included the period for which the person was a member of the recognised stock exchange in India
immediately prior to such demutualisation or corporatisation;
in the case of a capital asset, being equity share or shares in a company allotted pursuant
to demutualisation or corporatisation of a recognised stock exchange in India as referred to in
clause
of section 47, there shall be included the period for which the person was a member
of the recognised stock exchange in India immediately prior to such demutualisation or
corporatisation;]