Capital gains

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This query is : Resolved

Rekha Sai Teja (Querist)

03 January 2015 As per section 10(38), LTCG on transfer of Listed Shares subjected to payment of Securities transaction tax is EXEMPT..

My query ::

If Listed securities other than equity shares are sold.. then what is rate of Long term and short term capital gain??

and what section it involves..??

Amol S Joglekar

Amol S Joglekar (Expert)

03 January 2015 Provided that in the case of share held in a company 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 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.

Rekha Sai Teja

Rekha Sai Teja (Querist)

03 January 2015 thank u sir..

ut i need rate of tax on sale of listed securities other than eqity shares

CA Kumar Mukesh

CA Kumar Mukesh (Expert)

05 January 2015 STT is levied on only on equity share and equity oriented fund.
if STT is not levied it means that assessee is not eligible for exemption under section 10(38).
In that case tax will be levied at the rate of 20% under section 112.

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