i bought 100 shatres of company A from mrkt. i sold them back to the company under buy back offer after holding them for 1 year +.Do i pay long term capital gains tax?
kindly help
Rahul Chobdar
(Chartered Accountant (Financial Management))
(561 Points)
Replied 13 July 2009
HI Uday!
For shares, 1 year is taken as Long term & it is exempt from tax provided STT is paid.
uday
(cme)
(36 Points)
Replied 22 July 2009
THANKS,
I BOUGHT VIA EXCHANGE SO STT WAS PAID.
I SOLD TO COMPANY .HOW DO I GET TO KNOW WETHER STT WAS PAID BY THE CO.?
CA. Megha Topiwala
(Job)
(1534 Points)
Replied 24 July 2009
if STT is paid LTCG is exempt u/s 10(38)
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