STCG on Sale of Shares
This query is : Resolved
15 December 2009
Pvt. Ltd. company having main object clause in theri MOA as they can trade in shares. In Ass. Year 09-10 company made trading in shares i.e pur dur. the year and sale dur. the year and thus earned STCG but as such trading transaction is made after long period ( i.e. after 4 - 5 years) So wherether such trading will be treated as regular share trading transaction and taxable at under normal provision of IT i.e @ 30 % or It will be treat as STCG u/s 111 A and according taxable @ 15 % ?
15 December 2009
Whatever shares held as Investment which are sold after 4-5 years; are eligible for long term capital gains.
For current year; if there is a series of transactions; then this will be ordinary profit and not as short-term capital gain.
For current year; if there is a series of transactions; then this will be ordinary profit and not as short-term capital gain.
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