Exemption Of Long-Term Capital Gains On Securities

Exemption Of Long-Term Capital Gains On Securities


Any income arising to a taxpayer on account of sale of long term capital asset being securities will be completely outside the purview of tax liability especially when the transaction of sale of such securities is entered into a recognised stock exchange in India. Thus, if the shares of any company just listed in the stock exchange are sold after holding it for a minimum period of one year then there will be no liability to payment of capital gains. This provision would also apply for the existing shares which are held by an assessee and are being sold and that Securities Transaction Tax has been paid on the transaction.