Long Term Capital Gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 January 2011
Hi
I have some shares of an company listed on BSE & NSE...
The shares are purchased on 01/08/1990...if i sell them now would it be taxfree income???
I have not Paid STT since it was introduced in the year 2003-04 and the purchase year was 1990-91....
What should I do to enjoy it as Taxfree income????
I have some shares of an company listed on BSE & NSE...
The shares are purchased on 01/08/1990...if i sell them now would it be taxfree income???
I have not Paid STT since it was introduced in the year 2003-04 and the purchase year was 1990-91....
What should I do to enjoy it as Taxfree income????
14 January 2011
If you sell the shares through Stock Exchange, STT will be charged on sale amount. In this case you will get exemption u/s 10(38) of the I.T Act
You will get exeption even you have not paid any STT on purchase of Shares
You will get exeption even you have not paid any STT on purchase of Shares
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