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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2012
Kindly confirm:
1) Sec 111A is valid if Assessee has short term Capital gain on sale of Shares of Companies Listed in NSE/BSE, ie. in Demat form?
2) What is 'Amount deemed to be LTCG under Sec 54EC'?
Many thanks & regards!
1) Sec 111A is valid if Assessee has short term Capital gain on sale of Shares of Companies Listed in NSE/BSE, ie. in Demat form?
2) What is 'Amount deemed to be LTCG under Sec 54EC'?
Many thanks & regards!
CA PARAS BAFNA
(Expert)
04 August 2012
1. Demat Format Shares -is not the necessary condition.
.
On the sale transaction STT must have been paid through.
.
2. Amount deemed to be may have been referred in the context of long term depreciable assets. As you know that, on sale of Depreciable assets STCG is arising. But for the purpose of Section 54EC, the Dep. Asset older than 3 years is treated as LTCA.
.
.
On the sale transaction STT must have been paid through.
.
2. Amount deemed to be may have been referred in the context of long term depreciable assets. As you know that, on sale of Depreciable assets STCG is arising. But for the purpose of Section 54EC, the Dep. Asset older than 3 years is treated as LTCA.
.
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