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short term capital gain

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(Querist)
08 February 2011 Q: when a individual has income only form sale of shares, short term capital gain tax is attracted?

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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 February 2011 yes it will be attracted. Also it could be treated as business income in view of circular no. 4/2007.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
08 February 2011 If shares are sold after holding for a period of 12 months or more, the arising Capital Gains will be Long Term Capital Gains(LTCG). In such case LTCG will be exempt from tax.
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