NISM 19A AIF Distributors Certification Exam Notes
Page 36 Of 50
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CBDT Guidance: Lists factors like intention and holding period for capital gains.
Listed Shares: Held over 12 months, taxed as capital gains unless treated as stock-in-trade.
Unlisted Shares: Always taxed as capital gains, except in specific cases.
AIF Exemption: Category I/II AIFs exempt from control-related unlisted share exceptions.
Resident Taxation: Interest and dividends taxed at applicable rates.
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