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Indexation on sale of listed share.

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2012 Indexation is available to on sale of listed shares which is long term. and subject to exemtion of tax under section 10{38}
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
30 December 2012 Indexation is done to compute LT capital gains.
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Capital Gains amount is required to be computed when the arising LT capital gain is taxable .
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Whereas in case of listed shares, Section 10(38) talks about "income arising on transfer" of a LT Capital Asset. Income here means simply the difference of Sales consideration and cost.
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So when your income is exempt, you are not supposed to compute capital gains.
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Capital Gains are required to be computed only when these are taxable or such gains which are exempt U/s 54 to 54H.
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