Please tell me whether long term capital gain on sale of bonus shares is taxable or not?
3 Replies
CA Raha Sk
(Professional)
(150 Points)
Replied 18 November 2011
Taxable.....sale of shares are exempt from long term gain if security transaction tax is attracted
Devendra
(Chartered Accountant)
(4775 Points)
Replied 18 November 2011
LTCG shall be taxable @ 20%. But if shares are sold through Recognized Stock Exchange, then LTCG shall be exempt u/s 10(38).
Regards,
Devendra K
Nitesh Gupta
(Articled Assistant)
(145 Points)
Replied 19 November 2011
For LTCG on Bonus shares:-
Full Value of Consideration <amount recd on sale>
Less: Cost of Acquisition <NIL>
LTCG(if through RSE then exempt other wise taxable @ 20%)
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