Equity share in nasdaq

First of all check whether Security Transaction Tax paid has been paid or not on sale of such shares, If so then LTCG on sale will be exempt and if it is STCG then pay tax @ 15% on it. Up to A.Y 2014-15, for shares whether listed or not, if they are held for more than one year then such shares will be Long term capital asset(LTCA) and gain arising on it will be LTCG. From A.Y 2015-16, for unlisted shares period of holding to make them as LTCA, you should hold them for a period of more than 3years.

STT is paid on sale of these shares. Whatever shares i hold are not listed in NSE (only listed in NASDAQ), So your mean is, i need to hold for 3 years to make these LTCA? or is listed means any stock exchange in the world?

Thanks

Dear Naveen

Sec. 10(38) which exempts the LTCG arising on tranfer of Equity Shares is applicable only if Securities Transaction Tax (STT) as per Chapter VII of the Finance (No. 2) Act, 2004 is paid on such transfer. 

STT is applicable on "taxable securities transactions" which includes purachse and sale of amongst others, equity shares, enetered into in a recognised stock exchange in India.

Thus, since in your case the transfer takes place outside India, it will not be eligible for LTCG exemption u/s 10(38).

Regards

Ajay