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Existence of a section in present time
Is section 10(38) is still applicable ?
Replies (4)
Quick Summary
No. its taxable income now
But it is exempt till now??
Proviso to section 10(38):
Provided also that nothing contained in this clause shall apply to any income arising from the transfer of long-term capital asset, being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust, made on or after the 1st day of April, 2018.
https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx
So sec 10(38) is not relevant now.
Sec 10(38) doesn't apply after budget 2018 wef 01 04 2018. Beyond ltcg of Rs100000 dividend income will be added to total income for tax calculation
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