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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,
SECTION 3, SUB-SECTION (ii)]
GOVERNM ENT OF INDIA
M INISTRY OF FINANCE
DEPARTM ENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
Notification
New Delhi, the 17th March, 2016
S.O. 1146 (E).- In exercise of the powers conferred by section 2, read with section 295 of the
Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the
following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (6th Amendment) Rules, 2016.
(2) They shall come into force from the 1st day of April, 2016.
2. In the Income-tax Rules, 1962, after rule 8A, the following rule shall be inserted,
namely:-
“8 AA. M e thod of de te rmination of pe riod of holding of capital asse ts in ce rtain case s.-
(1) The period for which any capital asset, other than the capital assets mentioned in clause
(i) of the Explanation 1 to clause (42A) of section 2 of the Act, is held by an assessee, shall
be determined in accordance with the provisions of this rule.
(2) In the case of a capital asset, being a share or debenture of a company, which becomes
the property of the assessee in the circumstances mentioned in clause (x) of section 47 of the
Act, there shall be included the period for which the bond, debenture, debenture-stock or
deposit certificate, as the case may be, was held by the assessee prior to the conversion. ”
[Notificatio n No. 18/2016][F.No.142/1/2016-TPL]
[Ekta Jain]
Deputy Secretary (Tax Policy & Legisla tio n)
Note:- The principal rules were published vide notification number S.O. 969 (E), dated the
26th March, 1962 and last amended vide notification S.O.No.1101 (E), dated the 15th March ,
2016.