23 July 2012
Whether Long Term Capital Gain on sale of SBI Bond is exempt u/s 10(38) ??? provided that SBI bond is listed on recognised stock exchange. sale is also made through recognised stock exchange.
24 July 2012
section 10(38) benefit can be taken only when there is a transfer of equity shares or an equity oriented mutual fund through recognised stock ex... Bonds are neither equity shares nor an equity oriented mutual fund... so benefit u/s 10(38) is not available to you.
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