Capital Gain

Vijay Kumar (article) (402 Points)

14 January 2011

Hi
I have some shares of an company listed on BSE & NSE...
The shares are purchased on 01/08/1990...if i sell them now would it be taxfree income???

I have not Paid STT since it was introduced in the year 2003-04 and the purchase year was 1990-91....

What should I do to enjoy it as Taxfree income????

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CA Chirag Haraniya (Chartered Accountant) (902 Points)
Replied 14 January 2011

1 Like

CA Sahil Singla.. (Service Tax ) (3746 Points)
Replied 14 January 2011

agreed with Mr. Chirag...

Sonam Bidasaria (CA) (770 Points)
Replied 14 January 2011

The income to be exempted under Sec 10(38), should be STT suffered at the time of sale of shares.

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Renu (Article) (Accountant) (77 Points)
Replied 16 January 2011

Agree with Mr. Chirag

kamlesh shirbhate (CA final student) (68 Points)
Replied 16 January 2011

if at the time of sell if you pay stt .............then this ltcg is tax free ......... there is no prov. to pay stt at the time of purchase.

CA. Kunal Lakhotia (ACA) (1006 Points)
Replied 18 January 2011

Agree with Mr. Chirag

NARENDER PAWAR (CA final Student) (337 Points)
Replied 20 January 2011

yes, i am also agree with Mr. Chirag

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