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Promoter capital gain tax
Hi, if anyone could help with the below query: Sale of equity shares held by promoters in an IPO would be eligible for concessional capital gains tax rate of 10% under 112A and period of holding should be 12 months and not 24 months? Would appreciate your views
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Section 112 A of the Income tax is applicable to only long term capital gains ( holding period more than 12 months ) from listed equity shares subject to payment of STT .
112A is for LTCG for sale of equity shares
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