03 January 2015
Provided that in the case of share held in a company or any other security listed in a recognised stock exchange in India or a unit of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963) or a unit of a Mutual Fund specified under clause (23D) of section 10 or a zero coupon bond, the provisions of this clause shall have effect as if for the words "thirty-six months", the words "twelve months" had been substituted.
05 January 2015
STT is levied on only on equity share and equity oriented fund. if STT is not levied it means that assessee is not eligible for exemption under section 10(38). In that case tax will be levied at the rate of 20% under section 112.
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