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exemption LTCG sec 10(38)

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(Querist)
02 December 2016 Benefit of section 10(38) is available on LTCG arising on transfer of units of a business trust which were acquired by assessee in consideration for transfer of shares of special purpose vehicle
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
02 December 2016 Long term capital gain in the hands of unit holder on transfer of long term capital asset, being units of business trust on sale of which STT is paid is exempt as per section 10(38).
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