tax on income from shares sold

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 February 2011 Hi,

I have shares of few companies, holding it for more than 3 years. The appreciation is about 50%, If I sell these shares will the income be considered for income tax

CA bhargava

CA bhargava (Expert)
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17 February 2011 as u are holding shares for more than 1 year and if you transfer the shares in a recognised stock exchange , The LTCG(long term capital gain is exempt u/s.10(38) if the shares transfer ,and if covered by securities transaction tax

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2011 thank you for the information , would like to know what is securities transaction tax, will this be deducted automatically when I sell the shares thru online

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