Indexation not available ?

This query is : Resolved

AMIT (Querist)
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03 August 2010
Q1.On which asset whther long term or short term indexation benfit is not available ?

Q2. Gain of Rs. 10000 on sale of equity shares which is
Through recogonised exchnage BSE
Subject to STT
Long term holding

Will gain be exempted u/s 10 (38)

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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03 August 2010 1. Indexation benefit is not available on short term investments.

2. Yes, STT paid long term gains are exempt.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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03 August 2010 1. Indexation benefit available on long term assets only except on debentures & bonds.

2. Yes if the share are held for more than 1 year then gain exempt u/s 10(38).

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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03 August 2010 agreed with mr. jha.

STT PAID LTCG is exempt.

srinath

srinath (Expert)
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03 August 2010 for certain cases even wehre asset is long term no indexation benefit. slump sale 50C, block assets short term capital gain 50, 48 proviso