Income-tax Act,1961
Act No : 43
Section :
[See section 80HHC(2)(b)(ii)] 40; more than five years but not more than ten years 28 45; more than ten years but not more than fifteen years 33 50; more tha
1[THE TWELFTH SCHEDULE [See section 80HHC(2)(b)(ii)] PROCESSED MINERALS AND ORES (1) Pulverized or micronised barytes, calcite, steatite, pyrophylite, wollastonite, zircon, bentonite, red or yellow oxide, red or yellow ochre, talc, quartz, felspar, silica powder, garnet, silliminite, fireclay, ballclay, manganese dioxide ore. (ii). Processed or activated bentonite, diatomious earth, fuller's earth. (iii) Processed kaolin (china, clay), whiting, calcium carbonate. (iv) Beneficated chromite, fluorspar, graphite, vermiculite, ilminite, brown ilminite (lencoxene) rutile, monazite and other mineral concentrates. (v) Mica blocks, mica splittings, mica condenser films, mica powdermica, note, silvered mica, punched mica, mica paper, mica tapes, mica flakes. --------------------------------------------------------------------- 1 Inserted by the Finance (No. 2) Act, 1991, w.e.f. 1-4-1991. Earlier, the Twelfth Schedule, as inserted by the Finance Act, 1982, w.e.f. 1-4-1983 and omitted by the Finance Act, 1986, w.e.f. 1-4-1987, read as under: "[See section 80T(b)] The deduction in respect of the long-term capital gains referred to in section 80T shall be allowed on the basis indicated hereunder, namely:- ---------------------------------------------------------------------- Rate as percentage of the amount with reference to which the deduction is to be calculated under section 80T ---------------------------------------------------------------------- (1) (2) (3) ---------------------------------------------------------------------- Where the capitalWhere the capital gains relate togains relate to any buildings or landsother capital or any rights thereinassets --------------------------------------------------------------------- Where the capital asset has been held by the assessee for- more than three years but not more than five years 25
Read All Comments
