About long term shares
This query is : Resolved
26 September 2013
Hi sir ji..........
An Assessee bought share before 15yrs..and now he got 20l amount by that and invest that in F.D in bank..
Is he exempt from tax..
An Assessee bought share before 15yrs..and now he got 20l amount by that and invest that in F.D in bank..
Is he exempt from tax..
27 September 2013
Yes. Long term capital gain on shares is exempt from tax irrespective of the investment of sale proceeds from sale of shares.
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