Capital Gains Tax

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K R Sivaraman (Querist)

19 January 2010 Hi,

I was alloted shares in Mar 2008 and I sold the shares in May 2009. Can you please advise the tax rates and also the dates for payment of this tax.

regards

Sambu Suresh

Sambu Suresh (Expert)

19 January 2010 It is LTCG. Exempted from the tax. Need not to pay any tax

CA. Gurdeep Singh Chawla

CA. Gurdeep Singh Chawla (Expert)

19 January 2010 its Long Term Capital Gain hence exempt.

Aditya Maheshwari

Aditya Maheshwari (Expert)

19 January 2010 Yes the long term capital gains and the same is exempt only if the same were sold through a recognised stock exchange in India and STT has been paid on the sale

Bimal Thacker

Bimal Thacker (Expert)

19 January 2010 Yes, Aditya is right it is exempt only if the same were sold through a recognised stock exchange in India and STT has been paid on the sale.
If in your case the above is not i.e. no STT has been paid then there is following option
1)if it is security listed in any recognised stock exchange then (a)without indexation benifit you can pay the tax on gain @ 10% (plus applicable SC ED cess) or (b) with indexation benifit on gain @ 20% (plus applicable SC ED cess) the choice is your.
2)If it is not listed securities then with indexation benifit on gain @ 20% (plus applicable SC ED cess

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K R Sivaraman

K R Sivaraman (Querist)

19 January 2010 Hi,

Thanks for the advise. It has not been sold through a recognised stock exchange in India and hence I will take Bimal Thacker's words.

Thanks once again

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