Indexation not available ?

This query is : Resolved 

03 August 2010

Q1.On which asset whther long term or short term indexation benfit is not available ?

Q2. Gain of Rs. 10000 on sale of equity shares which is
Through recogonised exchnage BSE
Subject to STT
Long term holding

Will gain be exempted u/s 10 (38)

CMA. Subhash Kumar Jha (Expert)
03 August 2010

1. Indexation benefit is not available on short term investments.

2. Yes, STT paid long term gains are exempt.

Aditya Maheshwari (Expert)
03 August 2010

1. Indexation benefit available on long term assets only except on debentures & bonds.

2. Yes if the share are held for more than 1 year then gain exempt u/s 10(38).

03 August 2010

agreed with mr. jha.

STT PAID LTCG is exempt.

srinath (Expert)
03 August 2010

for certain cases even wehre asset is long term no indexation benefit. slump sale 50C, block assets short term capital gain 50, 48 proviso

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