Capital gain
paramjit singh (student) (45 Points)
18 October 2014paramjit singh (student) (45 Points)
18 October 2014
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 29 October 2014
Long term capital gain on which STT paid for the above transaction is exempted u/s.10(38). If STT was not paid it is taxable at flat rate of 20%. Long term capital loss on sale of shares on which STT Paid can not be set off against Longterm capital gain as If Income exempt, loss also exempt.