Can exemption u/s 10(38) be claimed on sale of shares of a foreign company which is traded outside India on which securities transaction tax is paid by the assessee?
7 Replies
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 02 August 2009
Exemption u/s 10(38) is applicable only in respect of STT paid in our country on sale of shares held for more than 1 year
CA CS Amit Borade
(Chief Accountant)
(2828 Points)
Replied 03 August 2009
In terms of section 10(38) of the Income Tax Act, 1961, any income arising form transfer of Long term capital asset, being an equity shares in a company or unit of equity oriented fund which is chargeable to securities transaction Tax are exempt form Tax.
CA Abhiram Bharat.
(Assistant Manager Taxation)
(508 Points)
Replied 03 August 2009
ya, i agree with mr. maheshwari.
any gain arising out of sale of capital asset being hold for more than 1 year & on which STT to be paid by exempt form tax by virtue of sec 10(38). not for foreign trading.
PIYUSH JINDAL
(study)
(84 Points)
Replied 03 August 2009
the exemption u/s 10(38) can be claimed by the assessee
harry
(Awaiting ca final results)
(461 Points)
Replied 05 August 2009
Can exemption be claimed on the basis of SEC commission and taxes withheld in respect of shares traded on a stock exchange in USA?
Abhishek Kumar
(Accountant )
(22 Points)
Replied 04 August 2017
KYA FIX DEPOSITE S RECEIVE INTEREST BHE ISMA ATA HAI SENEIOR CITIZEN K LIYA
Recent Topics
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
Related Threads
CAclubindia
