Long term capital gain
This query is : Resolved
17 September 2014
dear experts,
is it necessary to hold shares for 1 year in demat account for claiming exemption?
or
Period of holding calculated from the original date of acquisition?
is it necessary to hold shares for 1 year in demat account for claiming exemption?
or
Period of holding calculated from the original date of acquisition?
17 September 2014
yes u need to held it to make it on long term capital asset
17 September 2014
what if my dad hold reilance shares(bought in 1993) and now we want to sell the shares in market.
if we dematerialise those shares today and redeem the same after 10 days, are we eligible for tax exemption?
if we dematerialise those shares today and redeem the same after 10 days, are we eligible for tax exemption?
17 September 2014
just converting to demat from physical is not the criteria for the determining whther its long term or short term its from date of acq to date of selling that will decide the period of holding and in this case its ong term capital gain
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CA R SEETHARAMAN
(Expert)
17 September 2014
As you hold the shares more than one year eligible for tax exemption.
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