Capital gain - sale of shares
This query is : Resolved
Naveen Swami
(Querist)
30 December 2011
If Equity Shares are transferred after 1st October,2004,Capital Gain on such transfer is exempt u/s 10(38).
WHETHER IT IS NECESSARY THAT SUCH SHARES SHOULD BE PURCHASED BETWEEN 1983-1984 OR YEAR OF PURCHASE IS IMMATERIAL.
WHETHER IT IS NECESSARY THAT SUCH SHARES SHOULD BE PURCHASED BETWEEN 1983-1984 OR YEAR OF PURCHASE IS IMMATERIAL.
Aditya Maheshwari
(Expert)
30 December 2011
If STT is paid on sale of shares held for more than 1 year then the LTCG is exempt regardless of the year of purchase.
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