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Indexation not available ? (Income Tax)

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This query is : Resolved

( Querist )
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

( Expert )
03 August 2010

1. Indexation benefit is not available on short term investments.

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

Aditya Maheshwari

( Expert )
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).


( Expert )
03 August 2010

agreed with mr. jha.

STT PAID LTCG is exempt.


( Expert )
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



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