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Please tell me whether long term capital gain on sale of bonus shares is taxable or not?
Taxable.....sale of shares are exempt from long term gain if security transaction tax is attracted
LTCG shall be taxable @ 20%. But if shares are sold through Recognized Stock Exchange, then LTCG shall be exempt u/s 10(38).
Regards,
Devendra K
For LTCG on Bonus shares:-
Full Value of Consideration <amount recd on sale>
Less: Cost of Acquisition <NIL>
LTCG(if through RSE then exempt other wise taxable @ 20%)
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