LTCG on
Equity shares, Equity oriented fund , Business trust fund
👆 this r eligible for exemption or any amendment ???
Amendment as per Finance act 2018, refer sec. 112A ...
5 Replies
Jaisika Kukreja
(216 Points)
Replied 16 November 2018
i wnt to knw only for ay 18-19 whether exemption is available on units of business trust fund or not. Somewhere it is written yes or somewhere no ..bit confused
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182853 Points)
Replied 16 November 2018
The amendment is effective from AY 2019-20.
So, for AY 2018-19... exemption u/s. 10(38) is available.
Jaisika Kukreja
(216 Points)
Replied 16 November 2018
Sir u mean Units of business trust is allowed to exemption
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182853 Points)
Replied 16 November 2018
Read:: act...
(38) any income arising from the transfer of a long-term capital asset, being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust where—
(a) the transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No. 2) Act, 2004 comes into force; and
(b) such transaction is chargeable to securities transaction tax under that Chapter :
Recent Topics
- Rebate u/sec. 87A
- Taxability of Inward remittance in personal accoun
- Case under section 142(1)
- LOAN TAKEN BY A PROPRIETORSHIP FIRM
- Form 27Q TDS Return
- How to remove Schedule S(Salaries) Block2 in salar
- TDS or Tax on Defi on Binance - Crypto - (USDT Tet
- GST ITC to Garment dealers.
- Eport of goods
- Stamp Duty On Transfer
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
