Capital Gains Tax on shares sold
This query is : Resolved
Sanjay Dhaduti
(Querist)
22 March 2009
What is the rate of tax levied on gains made by selling shares
1. For shares held less than an year
2. For shares which are held for more than one year after purchase
3. Is it clubbed with the Income from the primary source of earning? or taxed separately?
1. For shares held less than an year
2. For shares which are held for more than one year after purchase
3. Is it clubbed with the Income from the primary source of earning? or taxed separately?
22 March 2009
1.gain will be shor term: If sale satisfy condition u/s 111A, then now for such STCG 15%, otherwise normal rate of tax.
2. gain will be long term: tax rate 20% if indexed else 10%, but this will be exepmt u/s 10(38) if condition specified are fulfilled.
3. answer contains in above.
2. gain will be long term: tax rate 20% if indexed else 10%, but this will be exepmt u/s 10(38) if condition specified are fulfilled.
3. answer contains in above.
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