Mr.X transferred share to Mr.B is a son of Mr.X without consideration(not through Recognised Stock exchange) , consequently Mr.B transfer the share to his friend .....is Mr.X liable to Capital gain tax?
exemptions rules has been changed from financial year 2017-18...for claiming exemption u/s 10(38) your father must has bought these shares from recognised stock exchange i.e STT paid.then you will get exemption. for transfer between mr B and his friend if it is from recognised stock exchange i.e STT paid then it is exempt but it should be LTCG.if short term then fully taxable no exemption
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