HI, IN JUNE 2008 I PURCHASED SHARES OF A GROUP COMPANIES & I SOLD OUT LAST MONTH CAN U TELL ME AM I TAXABLE FOR THE PROFIT GENERATED
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PROFIT FROM SHARE TRADING
Replies (6)
NOO U WONT BE UNDER THE TAX NET . . AS BECAUSE
1. ITS A LONG TERM SALE
2. IF ITS DONE THROUGH A RECOGNISED STOCK EXCHANGE SECURITIES TRANSACTION TAX WILL BE BORNE BY U
3. THEREFORE, U/S 10(38) U WILL BE EXEMPTED FROM PAYING TAX....
It will be LTCG exempt u/s 10(38)
Agree with members.
agree with the solution given
Right solution given by members
question is whether transaction were made thru stock exchange or not and which are the companies whether it is listed or not?
above question is decisive to give proper answer
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