Could you please tell what is the Tax rate if i sell shares
Long Term
Short term
kamal20042004 (MBA) (110 Points)
31 March 2009Could you please tell what is the Tax rate if i sell shares
Long Term
Short term
Balaji R K
(Salaried)
(158 Points)
Replied 31 March 2009
Hi,
If the shares are listed then the following rules are applied.
Long Term - Shares held for more than 12 months and then sold which is Long Term Capital Gain is exempt U/s 10
Short Term - Shares held less than 12 months and sold then it is termed as Short Term Capital Gains and the tax rate is 15% from Asst Year 2009 - 10 (Earlier it was 10%)
CA JAIMIN TRIVEDI
(C.A.)
(308 Points)
Replied 02 April 2009
I agree with Mr.Balaji. One important thing to be kept in mind is that the transaction of shares should be through recognized stock exhange with payment of applicable STT.
CAclubindia
