I had received the share of values 1 Lakhs as a nomiee after my grandfather dead. I recently sold these share (I kept these share for more than 1 year). I want to know how i can show these share in Tax return(as i have to show date of purchase and date of sale) and whether I have to pay any tax for these as i already paid STT tax.
no you dont have to pay taxes since it has been held for more than a year & STT has been paid on the same. Show the details of the share sold under capital gain head
if you are paid stt on share you are liable for pay capital gain and the day count for capital gain is when your grandfather purchases .
why is he liable to pay capitak gain vishu? i am unable to understand.. kindly explain.
Sonakshi is right...shares are held for >1 yr (so LTCA) and STT is paid. Hence such capital gains are exempt u/s 10(38)
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