Capital gain
This query is : Resolved
imran dafedar
(Querist)
22 June 2016
Respected experts,
Capital Gain arising on transfer of Long Term Equity shares is Exempt, if they are subject to Securities Transaction Tax. But My query is, My Client has sold same long term equity shares and paid securities transaction tax during fy 2015-16, But these shares were purchased during fy-1984 directly from co. Whether capital gain arising on such sale qualify for Exemption . Further if qualify for exemption , is it necessary to file return or not. During 1984 he purchased only 1000 shares, but during fy2015-16 no of shares which were sold are 9000 because of bonus shares , right shares , splitting ect. is it make any difference.
Capital Gain arising on transfer of Long Term Equity shares is Exempt, if they are subject to Securities Transaction Tax. But My query is, My Client has sold same long term equity shares and paid securities transaction tax during fy 2015-16, But these shares were purchased during fy-1984 directly from co. Whether capital gain arising on such sale qualify for Exemption . Further if qualify for exemption , is it necessary to file return or not. During 1984 he purchased only 1000 shares, but during fy2015-16 no of shares which were sold are 9000 because of bonus shares , right shares , splitting ect. is it make any difference.
Rupesh Jain
(Expert)
22 June 2016
if you pay the STT then its exempt capital gain. and its to be reporting under exempt income.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- 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
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
