Long term capital gain on sale of shares
This query is : Resolved
Mantu Agarwal
(Querist)
13 September 2014
Dear Expert,
We (Pvt. Ltd. Co.) have been issued 50000 equity shares @20/- each of another co. (Listed on BSE)on private placement basis in 2012.I our Balance sheet such shares are shown as Investment.
Now we want to sale that share through stock exchange. Current Market price is 36/-.
Whether we are liable to Tax on Long term Capital Gain.
We (Pvt. Ltd. Co.) have been issued 50000 equity shares @20/- each of another co. (Listed on BSE)on private placement basis in 2012.I our Balance sheet such shares are shown as Investment.
Now we want to sale that share through stock exchange. Current Market price is 36/-.
Whether we are liable to Tax on Long term Capital Gain.
Nikhil Kaushik
(Expert)
13 September 2014
there wont be any tax if the STT is paid on sale of shares since the company is listed on the exchange
15 September 2014
u havent mentioned whether any stt is paid or not if yes then no capital gain is applicable.
Mantu Agarwal
(Querist)
16 September 2014
Dear Expert,
I am planning to sale through Stock Exchange and STT will be paid.
I am planning to sale through Stock Exchange and STT will be paid.
Nikhil Kaushik
(Expert)
16 September 2014
then no tax will be applicable....
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