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CBDT's supplementary instructions

Our Bureau

New Delhi, May 16

The Central Board of Direct Taxes (CBDT) plans to issue supplementary instructions to its assessing officers to provide further guidelines for determining whether a person is a trader in stocks or an investor in stocks. Towards this end, the Finance Ministry has now invited comments of all stakeholders on the draft instructions. The CBDT had, in August 1989, laid down certain tests to distinguish between shares held as stock-in-trade and shares held as investment.

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