Hi
If A sells shares of Rs.18,00,000/- and all the shares are long term holding and the shares are purchased for Rs.1,20,000/- 5 years back.
What is the tax treatment for this?
Pankaj Arora
(Learner)
(3134 Points)
Replied 08 April 2011
If you purchase this from recognized stock exchange and paid STT than whole LTCG will exempt from tax.
CA AMANPREET SINGH
(Chartered Accountant)
(284 Points)
Replied 08 April 2011
if shares are sold through Recognised Stock Exchange, then LTCG shall be exempt u/s 10(38)
otherwise taxable at 20%
Revanth
(Job)
(145 Points)
Replied 08 April 2011
Yes, he purchased from the recognised stock exchange, may be it was 10 years back,at that time no STT was charge i think. Now can he avail the tax exemtpion if he not paid STT?
Pankaj Arora
(Learner)
(3134 Points)
Replied 08 April 2011
Pay STT and make your LTCG tax free......
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