10(38)
This query is : Resolved
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?
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?
18 November 2009
The LTCG is exempt u/s 10(38). U have of file an appeal before the CIT(Appeals) to get back the refund.
Guest
Guest
(Expert)
18 November 2009
Agree with experts.
You can also apply to Commissioner u/s 263
You can also apply to Commissioner u/s 263
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Intimation under section 245
- GST input credit on commercial property
- Gift to nri relatives residing in usa
- ETDS return q4 25-26
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
