section 10 (38)

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kusum (Querist)
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05 July 2011 whether it is compulsory to sale shares in the dematerialised form to claim exemption under section 10 (38).

Please reply quickly.

U S Sharma

U S Sharma (Expert)
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06 July 2011 to claim sec 10(38) the shares should be sold
1) through a recognized stock exchange
2) was held in possession for more than 365 days
3) such sales has suffered security transaction tax.

now sales through recognized stock exchange means you have to sell them through demat channel, as without demat exchange does not accept sales.