- SBL transactions shall not be regarded as a “transfer.”. However, in the case of a closeout (close out credit of shares is when the borrower defaults but gets the credit of shares), it would come under the preview of capital gains as the closeout would be considered a sale of the security.
- STT is not levied in case of SLB transactions and income generated from SLB activity should be shown as “Other Income” or “Business income” for taxation purposes, depending on the entity.
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