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capital gain

divyesh (Partner) (107 Points)

31 March 2010

equity Share purchased before year 2004 and sold in year 2007 thru recognised stock exhange (STT Paid) are exempt from ? if yes under which sec

Regards

Divyesh

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10 Replies

Max Payne (employed) (2574 Points)
Replied 31 March 2010

10(38)

Assuming you meant capital gains

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C.Balaji (Learner) (1867 Points)
Replied 31 March 2010

Dear Sir.....

Long Term Capital Gains on transfer of shares routed through stock exchange and STT is paid is exempt from tax u/s 10 (38)........

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SHUVRO ( (WANT TO LEARN) ) (175 Points)
Replied 31 March 2010

IF THE ASSESSEE IS A DEALER IN SHARES THEN WILL IT BE CHARGED AS CAPITAL GAIN OR PGBP?

Rahul Bansal (Finalist) (35929 Points)
Replied 31 March 2010

Exempt from tax u/s 10 (38).........

Raj Saxena (1412th Tiger) (Struggling Student) (272 Points)
Replied 01 April 2010

Originally posted by : C.Balaji
	Dear Sir..... Long Term Capital Gains on transfer of shares routed through stock exchange and STT is paid is exempt from tax u/s 10 (38)........

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C.Balaji (Learner) (1867 Points)
Replied 01 April 2010

Dear Shuvro......

If the assessee is a dealer in shares then it will be cahrged as PGBP...........

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 01 April 2010

If shares held as stock in trade then PGBP and then gain not exempt and if shares held as investments long term capital gains on sale of shares on which STT paid exempt u/s 10(38)