Capital Gain

Tax queries 660 views 8 replies
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402 Points Joined August 2010

Hi
I have some shares of an company listed on BSE & NSE...
The shares are purchased on 01/08/1990...if i sell them now would it be taxfree income???

I have not Paid STT since it was introduced in the year 2003-04 and the purchase year was 1990-91....

What should I do to enjoy it as Taxfree income????

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On 14 January 2011 at 16:16 Report
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Chartered Accountant
902 Points Joined February 2009

U will have to pay STT at the time of selling to make it taxfree.......

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On 14 January 2011 at 16:21
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Service Tax
3746 Points Joined August 2008

agreed with Mr. Chirag...

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On 14 January 2011 at 17:21
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CA
770 Points Joined July 2008

The income to be exempted under Sec 10(38), should be STT suffered at the time of sale of shares.

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On 14 January 2011 at 17:24
Guest

You can also refer to our detailed videos at www.corporateeducation.in to learn more about income from Capital Gains

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On 14 January 2011 at 23:14
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Accountant
77 Points Joined September 2010

Agree with Mr.  Chirag

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On 16 January 2011 at 12:34
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CA final student
68 Points Joined January 2010

if at the time of sell if you pay stt .............then this ltcg is tax free ......... there is no prov. to pay stt at the time of purchase.

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On 16 January 2011 at 15:42
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ACA
1006 Points Joined May 2010

Agree with Mr.  Chirag

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On 18 January 2011 at 15:27
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CA final Student
337 Points Joined December 2009

yes,  i am also agree with Mr. Chirag

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On 20 January 2011 at 14:07


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