Exemption u/s 10(38)
This query is : Resolved
24 June 2015
can resident but not ordinary resident can avail benefit for exemption under section 10(38)for transferring shares vid STT Paid
24 June 2015
Yes it can be availed.
A substantial benefit available to both residents and non-residents is exemption from income-tax under Section 10(38). Long-term capital gains earned on transfer of equity shares or units of an equity-oriented fund on which securities transaction tax (STT) is paid at the time of sale, are exempt.
A substantial benefit available to both residents and non-residents is exemption from income-tax under Section 10(38). Long-term capital gains earned on transfer of equity shares or units of an equity-oriented fund on which securities transaction tax (STT) is paid at the time of sale, are exempt.
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