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LTCG on Shares
Is ltcg on equity shares exempt and ltcg on equity mutual fund is exempt ?
Replies (6)
Yes
This securities are subject to stt hence exempt from ltcg
Thankyou sir... if it is not subject to STT , then it is taxable as ltgc?
Yes at 20% .....
sir.. if it is interday trading and stt is paid , the total of profit and loss of shares are taken as turnover and we show it as persumptive turnover and we calculate the profit... is it right ,? or it is wrong what's the way to show that income ,?
No. For intraday transactions the net difference of trades is aggregated to arrive at Turnover.
Its speculative business, eligible for sec. 44AD with minimum profit margin of 6% over the turnover.
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