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Income Tax Implication

As per the clarification from Income Tax vide their circular no. 2/2008, dated 22-2-2008 transactions done in the SLB shall not be regarded as transfer. For further details, please refer circular no. 2/2008, dated 22-2-2008 of the income tax department.

The Income Tax gives special recognition to SLBM; hence the trade is treated as an SLBM trade and there is no issue of Long Term or Short term gain.

The Income can be treated as Business Income or Short Term Income.

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