Long-Term Capital Gains On Shares : Exemption under Section - 10 (36)
[Investment In Shares, Securities, Units And Other Activities, etc. by an NRI in India]
The Finance Act, 2003 provides that any long-term capital gain regarding eligible equity shares in a company and purchased on or after 1-3-2003 but before 1-3-2004 would be exempt from tax. Eligible equity share means (i) any equity share in a company being a constituent of BSE-500 Index of the Stock Exchange, Mumbai as on 1-3-2003 and such transaction of purchase and sale are entered into on a recognised stock exchange in India; and (ii) any equity share in a company allotted through a public issue on or after 1-3-2003 and listed in a recognised stock exchange in India before 1-3-2004 and such transaction is entered into on a recognised stock exchange in India.
Investment In Shares, Securities, Units And Other Activities, etc. by an NRI in India
All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.
The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications