Long term capital gain

How to tax LTCG being shares, for AY 2018-19
Replies (4)

LTCG on securities on which securities Transaction tax paid is exempted under section 10(38).

Other LTCG will be taxable @ 20% as per section 112 of income tax Act 1961.

But that has been withdrawn from jan 18 right?

No ammendment is applicable from 01/04/2018 ie AY 2019-20 onwards.

10(38) not yet withdrawn.It is only ammended.With a view to prevent this abuse, the Government proposed to amend section 10(38) to provide that exemption under this section for income arising on transfer of equity share acquired or on after 1st day of October, 2004 shall be available only if the acquisition of share is chargeable to STT under Chapter VII of the Finance (No 2) Act, 2004. So, the now to claim the exemption u/s 10(38), it is now also mandatory that the transaction of acquisition is carried through recognise stock exchange and STT should have been paid on such acquisition.

LTCG on shares is exempt u/s 10(38)

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