Ltcg on shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2012 Hi frnds

whether LTCG on shares is exempt from tax??? If yes under which section it is?

For calculation of LTCG on shares, FIFO method is followed na???

CA SHAH DILEEPKUMAR

CA SHAH DILEEPKUMAR (Expert)
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16 May 2012 1. LTCG on shares is exempted if it is sold through recognised stock exchange on which STT is paid. It is exempted u/s. 10(38) of the Income Tax Act, 1961.

2. FIFO method is correct.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 May 2012 LTCG on shares is exempt u/s 10(38) if STT is paid at the time of sale of such shares.

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CA SHAH DILEEPKUMAR

CA SHAH DILEEPKUMAR (Expert)
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16 May 2012 1. LTCG on shares is exempted if it is sold through recognised stock exchange on which STT is paid. It is exempted u/s. 10(38) of the Income Tax Act, 1961.

2. FIFO method is correct.

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2012 Thank you all