capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2010
i had share of pvt. ltd.co. which was sold during the year. i was holding the said shares from last 2 years and same was sold at profit. the capital gain on sale of said shares of pvt.ltd.co.will be short term or long term some one told me that i should have hold the share for more than 3 years to get long term gain benefit.
Aditya Maheshwari
(Expert)
21 September 2010
it would be long term only.
Aditya Maheshwari
(Expert)
21 September 2010
read proviso to section 2(42A)
Provided that in the case of a share held in a company 91[or any other security listed in a recognised stock exchange in India or a unit of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963) or a unit of a Mutual Fund specified under clause (23D) of section 10] 92[or a zero coupon bond], the provisions of this clause shall have effect as if for the words “thirty-six months”, the words “twelve months” had been substituted.]
Provided that in the case of a share held in a company 91[or any other security listed in a recognised stock exchange in India or a unit of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963) or a unit of a Mutual Fund specified under clause (23D) of section 10] 92[or a zero coupon bond], the provisions of this clause shall have effect as if for the words “thirty-six months”, the words “twelve months” had been substituted.]
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