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Ltcg on shares purchased prior to ipo
I had purchased shares (dematerialized) of RBL in 2011, prior to the IPO. Post lapse of lock-in period, I have sold the shares yesterday. Will I have to pay any LTCG?
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Whether STT paid over the purchase? Or whether the purchase was through stock exchange?
Since the purchase was done in 2011, when the stock was not listed, the purchase was not done on exchange, and STT was also not paid.
So, the capital gain tax liability will arise...... as per recent amendment in finance bill, 2017.
Could you kindly help me with the relevant section/ clause number. Also, hope, I will be able to offset this gain against long term capital losses on shares (wherein STT was paid on both purchase and sale), and minimize my tax outgo. Many thanks for your help and guidance.
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