11 August 2010
Shares to be long term need to be held for more than 12 months only. Unlisted shares sold after being held for more than 12 months will taxable even if held for years together.
However the gain can be invested u/s 54EC & 54F to get exemption from the gain.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
12 August 2010
kindly state it with example, I could not understand about u/s 54EC & 54F to get exemption from the gain.
12 August 2010
You can invest the gain on sale of shares in purchasing infrastructure bonds as prescribed in that section like NHAI bonds or REC bonds. The bonds term is 3 years.
And u/s 54F u can invest in purchase of new house property if certain conditions as prescribed in that section are fulfilled.