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Regarding capital gain

amay (student) (41 Points)

06 August 2018

SIR/MADAM.I AM HAVING SHARES OF AVENUE SUPER MARKET WHICH WAS OFFERED ME BY MY EMPLOYER ON MAY 20 2015 AND THAT TIME COMPANY WAS UNLISTED BY SUCH TIME I SOLD THIS SHARES ON NOV 2017 SO SHOULD I NEED TO PAY CAPITAL GAIN AS THIS SHARES WERE LISTED ON 31-03-2017.PLEASE GUIDE ME

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Tejas more GDCA TAX EXPERT (Service) (4 Points)
Replied 06 August 2018

YOU HAVE TO PAY CAPITAL GAIN TAX, BECAUSE OF SOLD SHARE AFETR ONE YEAR YOU HAVE TO PAY LONG TERM CAPITAL GAIN.

But

At present, a 10% tax is levied on such long-term capital gains. However, the new law won't be applicable for all the gains up to 31st January 2018. This implies that any person who will sell shares after 1st April, 2018 will have to pay a 10% long-term capital gains tax if he/she gains an amount more than Rs.1 lakh.

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(Guest)

Yes its taxable uner capital gain

amay (student) (41 Points)
Replied 06 August 2018

BUT MY HOLDING PERIOD IS MORE THAN 24 MONTHS

Tejas more GDCA TAX EXPERT (Service) (4 Points)
Replied 06 August 2018

But At present, a 10% tax is levied on such long-term capital gains. However, the new law won't be applicable for all the gains up to 31st January 2018. This implies that any person who will sell shares after 1st April, 2018 will have to pay a 10% long-term capital gains tax if he/she gains an amount more than Rs.1 lakh.

you dont have to pay tax because of long term gain, & shares sold before 01 April 2018.