Capital gains
This query is : Resolved
Gopi Krishnan C Nair
(Querist)
22 September 2016
A Pvt Ltd Company sells shares of a society, held by it for a long time.
Will the transfer attract capital gains?
If yes, is indexation benefit available? What is the rate of tax?
Will the transfer attract capital gains?
If yes, is indexation benefit available? What is the rate of tax?
CA Sumiit B Nagpal
(Expert)
23 September 2016
First of all please explain what shares of a society? Did you mean the company has a flat/house in a society which it wants to sell. If yes, then surely the indexation benefit would be available provided the holding period is more than 3 years.
CA Sumiit B Nagpal
(Expert)
23 September 2016
And the rate of tax on Long term capital gain is 20%
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