Capital Gain
This query is : Open
M.M Sachora
(Querist)
14 September 2017
one person have share since last 20 years or more and he want to sale now but today value of share is more that 60lakh so is this exempt under income-tax under head Capital Gain as long term Capital Gain is exempt (STT paid on sale ) or he is liable to pay income-tax at prescribe rate under income-tax ?????????
K Srinivas, CMA CS
(Expert)
14 September 2017
Whether the shares are listed in a Stock exchange? If so, then the gains are exempt if you sell the shares in such stock exchanges as you would have already paid the STT.
K Srinivas, CMA CS
(Expert)
14 September 2017
However ensure that you dematerialize the shares to enable you sell them in stock exchange
M.M Sachora
(Querist)
16 September 2017
Thanks you sir and yes share is listed on stock exchange
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