long term capital gain on shares
This query is : Resolved
31 July 2010
hii
i want to know for claiming long term gain on shares is it neccessary to pay stt on both side i.e on purchase and sale or only on sale transaction.
i want to know for claiming long term gain on shares is it neccessary to pay stt on both side i.e on purchase and sale or only on sale transaction.
31 July 2010
I THINK YOU ARE ASKING FOR EXEMPTION OF LONG TERM CAPITAL GAIN.
YES, BOTH TRANSACTION SHOULD ATTRACT STT TO GET BENIFIT OF EXEMPTION.
YES, BOTH TRANSACTION SHOULD ATTRACT STT TO GET BENIFIT OF EXEMPTION.
31 July 2010
Long term capital gains tax from the sale of equity shares or units of equity oriented mutual funds which are subject to securities transaction tax (STT) is totally exempt u/s 10(38),
Short-term capital gain arising from such equity shares or units, which are subject to securities transaction tax (STT) shall be taxes at concessional rate of 15% u/s 111A w.e.f. A.Y. 2009-10
Short-term capital gain arising from such equity shares or units, which are subject to securities transaction tax (STT) shall be taxes at concessional rate of 15% u/s 111A w.e.f. A.Y. 2009-10
31 July 2010
Securities Transaction Tax is applicable on purchase or sale of equity shares, derivatives, equity oriented funds and equity oriented Mutual Funds.
31 July 2010
Fact of the cases
Claiming exemption u/s 10 (38) for LTCG
Provisio
If the transaction is subject to STT at both the time of purchase aswell as sales LTCG will be exempted from LTCG.
Whereas STCG will bear a concessional rate of tax u/s 111A if STT has been paid at the time of both sales and purchase
Claiming exemption u/s 10 (38) for LTCG
Provisio
If the transaction is subject to STT at both the time of purchase aswell as sales LTCG will be exempted from LTCG.
Whereas STCG will bear a concessional rate of tax u/s 111A if STT has been paid at the time of both sales and purchase
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
