capital gain tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 November 2010 Sir I am having some shares of a company which I purchased Rs.10 per share at that time. Now the rate of the shares are Rs.500 per share. I want to sell these shares now. Please tell me the tax on capital gain. Also tell me how the company adjust this amount in its accounts?

amit

amit (Expert)
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14 November 2010 Buddy you did not mentioned the time frame of the transaction

Short Term Capital Gain Tax @15% (Invt. period is less then one year)

Long term capital Gain Tax Nil

I hope you are talking abt a listed company then you will sell the sahres in the open market and company is not concern about your transaction in open market.

they will just remove your name from the member list and put the name of the buyer