Capital gain tax liability

This query is : Open

Karan Khurana (Querist)
Follow

07 July 2013 My FATHER & HIS BROTHER TRANSFER SHARE TO ME WITHOUT CONSIDERATION SHARE HOLD BY MY FATHER AND HIS BROTHER IN PHYSICAL FORM FIRST THEY TRANSFER SHARE TO MY NAME THEN I HAD SUBMIT SHARE CERTIFICATE TO REGISTRAR OF COMPANY TO TRANSFER IN MY DEMAT ACCOUNT

I HAD SOLD FEW SHARE OUT OF THOSE SHARE AFTER DEMAT

WHAT IS THE TAX LIABLITY IN MY HAND

SHARE HOLD BY MY FATHER & HIS BROTHER MORE THEN 15 YEARS IN PHYSICAL FORM

PLZ HELP ME I WANT FILE RETURN THIS YEAR

Prof. Bajaj

Prof. Bajaj (Expert)
Follow

08 July 2013 If it is listed share, and you have held it for more than 365 days in your name and have paid STT while selling it, then there is no tax liability on you.

Karan Khurana

Karan Khurana (Querist)
Follow

09 July 2013 Dear Sir thanks for your reply but little bit confuse period of holding start from which date from the date of purchase of my father or from the date of transfer to my name

because i had mention that physical share certificate hold by father & his brother since 15 years and they transfer to me in the month of May'2012 so in that case it is taxable or excempt

Please reply

Upgrade to CAclubindia Pro. Subscribe Now!