20 May 2008
My friend holds few shares of a company and he wants it to be transferred to his brother. What will be his tax liability assuming that he has both short term and long term shares. Please help.
20 May 2008
If the shares are transferred otherwise than through the stock exchange, then capital gain tax will be the normal slab based tax rate for short term shares and 10%(without indexation benefit) or 20%(with indexation benefit), at the option of the assessee, for long term shares.
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