capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2010 i had share of pvt. ltd.co. which was sold during the year. i was holding the said shares from last 2 years and same was sold at profit. the capital gain on sale of said shares of pvt.ltd.co.will be short term or long term some one told me that i should have hold the share for more than 3 years to get long term gain benefit.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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21 September 2010 it would be long term only.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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21 September 2010 read proviso to section 2(42A)
Provided that in the case of a share held in a company 91[or any other security listed in a recognised stock exchange in India or a unit of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963) or a unit of a Mutual Fund specified under clause (23D) of section 10] 92[or a zero coupon bond], the provisions of this clause shall have effect as if for the words “thirty-six months”, the words “twelve months” had been substituted.]

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