Ltcg exemption in case of listed shares - off market
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 February 2012
Dear sir,
Whether LTCG exemption could be claimed for listed shares sold through private arrangement / inter se transfer among promoter group through off market method?
If not possible let me know other alternative ways to claim LTCG.
Kindly suggest me...!
Regards,
Whether LTCG exemption could be claimed for listed shares sold through private arrangement / inter se transfer among promoter group through off market method?
If not possible let me know other alternative ways to claim LTCG.
Kindly suggest me...!
Regards,
04 February 2012
For getting exemption of LTCG.- the requirement is payment of Securities Transaction Tax. In off market transaction if STT is not payable, such LTCG becomes taxable.
.
The best way is to enter the transactions in
a recognised stock exchange.
.
The best way is to enter the transactions in
a recognised stock exchange.
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 February 2012
Sir,
THank you for your reply. I have identified purchaser which means its kind of inter see transfer among promoter group. How to execute this sale so that LTCG exemption become effective?
THank you for your reply. I have identified purchaser which means its kind of inter see transfer among promoter group. How to execute this sale so that LTCG exemption become effective?
04 February 2012
You may get deduction of LTCG by investing in mode specified under section 54EC.
Investments can be made in specified bonds of NHAI or REC within 6 months of date of transfer of shares. These bonds are redeemable after 3 years. The maximum amount that can be claimed as deduction is Rs. 50 lacs.
Investments can be made in specified bonds of NHAI or REC within 6 months of date of transfer of shares. These bonds are redeemable after 3 years. The maximum amount that can be claimed as deduction is Rs. 50 lacs.
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