It is commonly believed that long term gains on sale of shares are fully tax free. While , it is true that government has made the long term gains on shares tax free by inserting section 10(38) of the I T Act , not all kinds of long term gains on shares are tax free....
Cost Inflation Index For FY 2008-09 Notified!
August 19, 2008 by
Good news for everyone who was waiting for Cost Inflation Index for FY 2008-09. It is notified . August 13, 2008 Notification No. 86/2008 Section 48, Explanation (v) of the Income-Tax Act, 1961 -Notified Cost of Inflation Index for the Financial Year 2008-09 In exercise of the powers conferred by clause (v) of the Explanation...
Whether Surrender Of ULIP Before Maturity Date Make You Liable For Tax?
August 17, 2008 by
Can you please clarify what taxes will be in the following cases. I paid a premium of Rs.30,000 per year for two years in a ULIP. I used these premiums for claiming deductions under Section 80C. If I surrender this policy after two years, do I have to pay any taxes on the gains at...
Simple Terms Related to ESOP Explained !
August 15, 2008 by
What is the “date of transfer” for ESOP. Is it “date of vesting” or “date of exercise”. Also how would this differin shares exercised before 1st April 2007 (before FBT) and after (under FBT) ?. “Date of transfer” is important in calculating period of holding, which decides whether gain is short-term or long-term. For example,...
Can I Claim Exemption If Physical Shares Are Converted To Demat Form & Then Sold?
August 8, 2008 by
Technorati tags: Capital Gains I am having 100 listed shares in physical form which were acquire by me on 15-11-1999 & on 10-04-2008 it has been dematerialsed in my demat account. These shares are sold on 15-06-2008 by recognized stock exchange on which security transaction has been paid. So please let me know whether the...
Monthly Subscription
Annual
Semi Annual Subscription
Quiz for CA/ICMA/CS Students