04 August 2015
I have a confusion regarding LTCG on sale of Listed shares.
LTCG earned on listed securities is exempt u/s 10(38) if STT is paid.
Other section, i.e. sec 112 says that tax shall be imposed @20% with Indexation, or @10% without indexation, if the transfer takes place on or before 10/07/2014.
So, which section prevails if I have sold listed shares in F.Y. 2014-15, which were bough 2 years ago?
04 August 2015
For listed securities LTCG is exempted u/s 10(38). Sec 112 is applicable for unlisted securities. In your case it is exempted being listed shares.