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Capital gain
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?
Replies (2)
YES
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
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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