Capital gains on shares
shivam hy (yel) (83 Points)
09 March 2017shivam hy (yel) (83 Points)
09 March 2017
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 09 March 2017
whether they are short term or long term ? you can deduct from sale consideration the brokerage paid if SECURITIES TRANSACTION TAX IS PAID SHORTTERM CAPITAL GAINS IS COMPUTED @ 15% as per section 111A and if it is a long term it is exempt from capital gains tax as per sec 10(38).It is presumed that shares are equity shares and listed on a recognised stock exchange