Whether it is transfer under cap gains
This query is : Resolved
pratibha Srimal
(Querist)
11 January 2012
I had shares in physical form in joint name of me and my husband name.I was First Holder and he is the Second holder.I opened a Joint Demat A/c and transferred the shares in it. Then I transferred the shares to my Individual A/c.What Tax implications would be there if sell those shares through Stock Exchange.
CA PARAS BAFNA
(Expert)
15 January 2012
If you sell shares, and these if are held for more than 12 months, LTCG would arise, which is exempt from Tax.
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Transfer from 1 demat A/c to another Demat A/c will not be considered here. Your period of holding is calculated from the date when these shares have been purchased/ allotted to you.
.
.
Transfer from 1 demat A/c to another Demat A/c will not be considered here. Your period of holding is calculated from the date when these shares have been purchased/ allotted to you.
.
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