Long Term Capital Gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

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????

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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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

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