25 December 2023
If I bought an unlisted equity security in 2003 I would not have paid STT as STT is paid only if security is purchased through recognized stock exchange . But now when I sell the security in 2023 , it is listed and I pay STT on transfer. But section 112A specifically says that it is for listed equity shares on which STT was paid BOTH AT ACQUISITION AND TRANSFER . So now how will 112A apply to my securities? Or will section 112 apply instead?
Further I would also like more details about STT and how it is applied.
16 January 2024
Section 112A is the provision for tax on LTCG on equity shares, equity mutual funds, and units of business trust on which STT is paid and listed on a recognised stock exchange in India. Section 112 is the provision for tax on LTCG for all assets except those covered under Section 112A.
CAclubindia
