18 November 2009
1. Long term capital gain on shares purchased through IPO and then sold through a recognized stock exchange is covered under section 10(38) and thus not LTCG is exempt from tax. Is my contention correct? 2. The AO has taxed the above mentioned LTCG relating to AY 2008-09. What is the procedure to claim back the refund in this case?
CAclubindia
