Issue on Bonus Shares Taxability
This query is : Resolved
03 August 2010
Sir, one of my client has sold bonus share of a listed company whether the capital which is long term in nature is exempt..........
03 August 2010
yes
03 August 2010
STT PAID LONG TERM GAIN IS EXEMPT.
03 August 2010
The bonus shares must have been held for more than 1 year to take exemption u/s 10(38). If the bonus share held for more than 1 year then gain exempt.
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