short term capital gain
This query is : Resolved
ravisaikumar
(Querist)
08 February 2011
Q: when a individual has income only form sale of shares, short term capital gain tax is attracted?
Aditya Maheshwari
(Expert)
08 February 2011
yes it will be attracted. Also it could be treated as business income in view of circular no. 4/2007.
CA PARAS BAFNA
(Expert)
08 February 2011
If shares are sold after holding for a period of 12 months or more, the arising Capital Gains will be Long Term Capital Gains(LTCG). In such case LTCG will be exempt from tax.
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