Ltcg on sale of shares of a listed company
This query is : Resolved
PIYUSH SINGLA
(Querist)
25 May 2013
AS WE KNOW, LTCG ARISING ON SALE OF SHARES OF A LISTED COMPANY IS EXEMPT UNDER SECTION 10(38). HOWEVER, IF TRADING OF SHARES HAS BEEN SUSPENDED AT STOCK EXCHANGE, CAN THE EXEMPTION U/S 10(38) BE AVAILED.
CA PARAS BAFNA
(Expert)
25 May 2013
The capital Gains is exempt subject to one more condition that the transaction is chargeable to security transaction tax.
.
STT is payable when the transaction is a STT taxable transaction and for that the prime requirement is- it should take place in a recognised stock exchange.
.
As such, the benefits of Section 10(38) would not be available.
.
STT is payable when the transaction is a STT taxable transaction and for that the prime requirement is- it should take place in a recognised stock exchange.
.
As such, the benefits of Section 10(38) would not be available.
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