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Long term gain on sale of shares

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(Querist)
18 March 2009 Can anyone tell me from when which Assessment Year or the circular no.) is the long term gain on sale of shares exempt from tax?
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
18 March 2009 under section 10(38) long-term capital gain on transfer of equity shares/units of equity oriented mutual funds covered by securities transaction tax are exempt from tax.
its applicable from the AY 2005-06.
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
18 March 2009 I AGREE WITH DEVANSHI
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
18 March 2009 I AGREE WITH DEVANSHI
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Akshay

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Akshay (Querist)
19 March 2009 thanks a lot...!!!
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