Applicability of Section 112 or 112A

Hi,

1. Appropriately said, Since Period of Holding is above 12 months, LTCG applies

2. As said , purchases are through PMS Co. kindly check whether STT paid on purchases, If paid, then since STT is paid on sale too, Sec112A applies, therefore you can avail exemption of 1 lakh and pay @ 10% on excess gain

(note 1: Rs.1 lakh limit is per assessee per year for all transactions.)

(note 2: indexation is not available)

3. If on purchase STT is not paid, then sec112 applies, then in such case, Assessee have option to pay @ 10% without indexation (or) 20% with indexation.

Hope it clarify your doubt. 

Akshay Agaldiviti

Email us at: akshay.agaldiviti @ gmail.com

Gentlemen, Thanks for the clearcut answers. Regards, Ram