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Issue on Bonus Shares Taxability

This query is : Resolved 
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(Querist)
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..........
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VINOD ARORA

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VINOD ARORA (Expert)
03 August 2010 yes
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
03 August 2010 STT PAID LONG TERM GAIN IS EXEMPT.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
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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