Taxability of Share Market Transactions

More documents

Recommendations

Info

Equity shares Section 10 (36) • BSE 500 index • Shares acquired between 1-3-20031 & 29-2-2004 2004 • Transferred after 12 months through a recognised stock exchange • Capital gains not chargeable to tax • Exemption has become redundant after introduction of section 10 (38)
Equity shares Section 10(38) • Long term capital gains arising from: – Equity shares in a company – Units of an equity oriented fund • Exempt from tax, provided transaction of sale is entered into after the date of application of chapter VII. (1-10 10-2004) • STT has been paid on the said transaction • Exemption available to all assessee • Long term capital asset • Similar conditions for short term capital assets for reduced rate of tax of 10% u/s 111A
Page 1 and 2: Taxability of Capital Market transa
Page 3 and 4: Statutory provisions • Business
Page 5 and 6: Effect of Section 88E • Scheme be
Page 7 and 8: Speculative transactions • Sectio
Page 9 and 10: Speculative transactions Proviso (d
Page 11 and 12: Speculation business • Explanatio
Page 13 and 14: Explanation to section 73 Implicati
Page 15: Long term capital asset • Held fo
Page 19 and 20: Rate of tax on LTCG Section 112 •
Page 21 and 22: Cost of acquisition of shares Secti
Page 23 and 24: Loss in dividend stripping transact
Page 25 and 26: Implication • 1000 Shares purchas
Page 27 and 28: Capital Gains/ Business Income Suni
Page 29 and 30: Capital Asset Capital asset means p
Page 31 and 32: Authority for Advanced Rulings •
Page 33 and 34: Judicial precedents • Raja Bahadu
Page 35 and 36: Draft Instructions dt 16/5/2006 •
Page 37: Final outcome • Circular does not
Page 40: Transfer • Conversion of preferen

Taxability of Share Market Transactions

Create successful ePaper yourself

Delete template?

Save as template?