Section 10(38) - long term capital gains
This query is : Resolved
Hemangi Parekh
(Querist)
21 May 2013
Kindly guide me regarding the Tax effect on Long Term Capital Gains earned by a Partnership Firm on sale of Shares on which STT has been paid.Will the income be exempted u/s.10(38)for a Partnership Firm also? or is it applicable to Individuals only?
Kindly guide and if you could provide case laws I would Obliged.It is urgent so pls reply.
Thanking You.
Kindly guide and if you could provide case laws I would Obliged.It is urgent so pls reply.
Thanking You.
CA Vikas Acharya
(Expert)
21 May 2013
exemption available to all assesses and therefore also allowed to partnership firm.
Hemangi Parekh
(Querist)
21 May 2013
Thasnk you sir for your reply
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