14 January 2011
Hi I have some shares of an company listed on BSE & NSE... The shares are purchased on 01/08/1990...if i sell them now would it be taxfree income???
I have not Paid STT since it was introduced in the year 2003-04 and the purchase year was 1990-91....
What should I do to enjoy it as Taxfree income????
14 January 2011
If you sell the shares through Stock Exchange, STT will be charged on sale amount. In this case you will get exemption u/s 10(38) of the I.T Act
You will get exeption even you have not paid any STT on purchase of Shares
CAclubindia
