i had purchased 100 lic shares at @ 10 each, now its vale is 100000 Rs., Now i want to know that whether it is taxable in my hands when i sell it.
i had purchased 100 lic shares at @ 10 each, now its vale is 100000 Rs., Now i want to know that whether it is taxable in my hands when i sell it.
Hello Garg Ji
LTCG on listed securities is totally exempt u/s 10(38). So, it is not taxable to you at the time of sale.
Thanking You
ARPIT IS RIGHT
yes, if STT(security transaction tax) is paid then it will be exmpted under sec. 10(38)....if you are not liable to pay STT, then the LTCG should be taxed at 20%. Additionally, if your total taxable income during FY14 exceeds Rs.1 crore, you will have to pay a surcharge at 10% on basic rate (i.e., 20%). Further, you will have to pay an education cess of 3% on basic as well as surcharge (if surcharge is applicable in your case).
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