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Tax treatment of sbi bond

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(Querist)
23 July 2012 Whether Long Term Capital Gain on sale of SBI Bond is exempt u/s 10(38) ???
provided that
SBI bond is listed on recognised stock exchange. sale is also made through recognised stock exchange.
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
24 July 2012 section 10(38) benefit can be taken only when there is a transfer of equity shares or an equity oriented mutual fund through recognised stock ex... Bonds are neither equity shares nor an equity oriented mutual fund... so benefit u/s 10(38) is not available to you.
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