What is the calculation of Capital Gain Tax for shares holding more than 2 years ?
2 Replies
Jag Bhushan Sharma
(Faculty in a B-School)
(633 Points)
Replied 12 August 2011
If you sell shares after holding them for a period of 12 months, then capital gains made by you are called long-term capital gains (it is 36 months in case of other assets). In case of shares long-term capital gain is exempt, hence no tax is payable.https://facebook.com/jbsclasses
Akshay
(Properitor)
(25 Points)
Replied 01 February 2012
Bhushan Sir ,
what if the profit made in this case ie 5 lacs , is not re invested and is withdrawn for personal use . does it attract tax ??
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