exemption LTCG sec 10(38)
This query is : Open
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
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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