Is long term gain on shares or units tax free under Direct Tax Code?

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The good news is : Yes, the long term capital gains on sale of shares of companies or mutual funds on which securities transaction tax has been deducted is made tax free. But , just note that instead of exemption being given like section 10(38) , now everyone who wants that tax not be paid on shares…

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Tags: investment asset long term capital gains

The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

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