Whether the Long term Capital Gain on Sale of Equity Shares purchased under IPO... i.e without paying STT, as directly purchased from Company is eligible for exemption u/s 10(38) of The Income tax Act, 1961.... when STT has been paid only at the time of sale of such shares... Kindly answer this for A.Y 2018-19.
If 10(38) is not applicable on the same... whether section 112 shall come into picture...???
CAclubindia
