what circumstances for deciding the period of long term gain and short term gain? probabley in share market !
2 Replies
Nikhil
(CA FINAL CLEARED GRP 1)
(86 Points)
Replied 23 December 2008
If shares sell with in the period of less then 1 year then its Short Term
If more then 1 year it's loan term......................
Hitesh Kothari
(Article)
(144 Points)
Replied 23 December 2008
If shares are sold within 1 year then gain arising on the same will be Short term & will be taxable @ Slab applicable, after 1 year through Stock Exchange then it will be Long term & exempt u/s 10(38), if not through Stock Exch then 2 Option exist :
Indexation : then @ 20% otherwise @ 10%.
Regards
Hitesh
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