LTCG on Shares
surya sj (60 Points)
18 July 2018
Is ltcg on equity shares exempt and ltcg on equity mutual fund is exempt ?
6 Replies
Navghan Halvadia
(Chartered accountant)
(103 Points)
Replied 19 July 2018
This securities are subject to stt hence exempt from ltcg
surya sj
(60 Points)
Replied 19 July 2018
Thankyou sir... if it is not subject to STT , then it is taxable as ltgc?
surya sj
(60 Points)
Replied 19 July 2018
sir.. if it is interday trading and stt is paid , the total of profit and loss of shares are taken as turnover and we show it as persumptive turnover and we calculate the profit... is it right ,? or it is wrong what's the way to show that income ,?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178244 Points)
Replied 19 July 2018
No. For intraday transactions the net difference of trades is aggregated to arrive at Turnover.
Its speculative business, eligible for sec. 44AD with minimum profit margin of 6% over the turnover.
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