long term capital gain on shares
This query is : Resolved
31 July 2010
hii
i want to know for claiming long term gain on shares is it neccessary to pay stt on both side i.e on purchase and sale or only on sale transaction.
i want to know for claiming long term gain on shares is it neccessary to pay stt on both side i.e on purchase and sale or only on sale transaction.
31 July 2010
I THINK YOU ARE ASKING FOR EXEMPTION OF LONG TERM CAPITAL GAIN.
YES, BOTH TRANSACTION SHOULD ATTRACT STT TO GET BENIFIT OF EXEMPTION.
YES, BOTH TRANSACTION SHOULD ATTRACT STT TO GET BENIFIT OF EXEMPTION.
31 July 2010
Long term capital gains tax from the sale of equity shares or units of equity oriented mutual funds which are subject to securities transaction tax (STT) is totally exempt u/s 10(38),
Short-term capital gain arising from such equity shares or units, which are subject to securities transaction tax (STT) shall be taxes at concessional rate of 15% u/s 111A w.e.f. A.Y. 2009-10
Short-term capital gain arising from such equity shares or units, which are subject to securities transaction tax (STT) shall be taxes at concessional rate of 15% u/s 111A w.e.f. A.Y. 2009-10
31 July 2010
Securities Transaction Tax is applicable on purchase or sale of equity shares, derivatives, equity oriented funds and equity oriented Mutual Funds.
31 July 2010
Fact of the cases
Claiming exemption u/s 10 (38) for LTCG
Provisio
If the transaction is subject to STT at both the time of purchase aswell as sales LTCG will be exempted from LTCG.
Whereas STCG will bear a concessional rate of tax u/s 111A if STT has been paid at the time of both sales and purchase
Claiming exemption u/s 10 (38) for LTCG
Provisio
If the transaction is subject to STT at both the time of purchase aswell as sales LTCG will be exempted from LTCG.
Whereas STCG will bear a concessional rate of tax u/s 111A if STT has been paid at the time of both sales and purchase
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Banking Related Issue
- ASMT-10 received from A O
- ITR-3 File/Error Found
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Difff in ais receipts and gst turnover
- Gst on travel by air for business purposes
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
