HI, IN JUNE 2008 I PURCHASED SHARES OF A GROUP COMPANIES & I SOLD OUT LAST MONTH CAN U TELL ME AM I TAXABLE FOR THE PROFIT GENERATED
Dharmesh Kumar (Accountant) (64 Points)
12 September 2009HI, IN JUNE 2008 I PURCHASED SHARES OF A GROUP COMPANIES & I SOLD OUT LAST MONTH CAN U TELL ME AM I TAXABLE FOR THE PROFIT GENERATED
SANKAR KIRAN P
(Top Edge of CA & CS)
(246 Points)
Replied 12 September 2009
NOO U WONT BE UNDER THE TAX NET . . AS BECAUSE
1. ITS A LONG TERM SALE
2. IF ITS DONE THROUGH A RECOGNISED STOCK EXCHANGE SECURITIES TRANSACTION TAX WILL BE BORNE BY U
3. THEREFORE, U/S 10(38) U WILL BE EXEMPTED FROM PAYING TAX....
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 12 September 2009
It will be LTCG exempt u/s 10(38)
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 13 September 2009
Agree with members.
vibhav shah
(CA)
(55 Points)
Replied 30 September 2009
question is whether transaction were made thru stock exchange or not and which are the companies whether it is listed or not?
above question is decisive to give proper answer
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