26 May 2010
sir my father purchased 247 shares of kalyani steels in 1993. unfortunately he expired on 29.9.1995. the securities got transmitted in my name in 2009.the value of shares is Rs52000 whensold. kindly advice what could be the tax liability.
26 May 2010
Any Longterm capital gain arising from transfer of equity shares of a listed company is exempt from tax subject to if the shares sold thru recognised stock exchange and STT paid on the above shares.
CAclubindia
