Capital gain on G.O.I of Co-operative Bank
This query is : Resolved
CA Chintan Parikh
(Querist)
16 April 2011
Dear Expert,
Co-operative Bank held Investment in G.O.I ( Government Of India ) Securities.
The investment are more than One Year Old whether profit on sale of Such Investment is taxable or Exempted as LTCG 10(38)
If Taxable than what rate taxable and in which section
Co-operative Bank held Investment in G.O.I ( Government Of India ) Securities.
The investment are more than One Year Old whether profit on sale of Such Investment is taxable or Exempted as LTCG 10(38)
If Taxable than what rate taxable and in which section
Kapil Gupta
(Expert)
16 April 2011
How it trigged to you that it wont be taxable?
The long term capital on equity shares are exempt provided the same is traded through recognised stock exchange and STT has been paid on the same. The unit of mutual fund are also exempted but not the Treasury Bill and bond of GOI.
The long term capital on equity shares are exempt provided the same is traded through recognised stock exchange and STT has been paid on the same. The unit of mutual fund are also exempted but not the Treasury Bill and bond of GOI.
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