Comment on Commonly Used Jargons

Indrani Banerjee commented on 06 Feb 2017, 10:48 AM

Hi,
Previously we knew that regarding Transaction of equity shares, profits from selling shares which are held for 365 days or more, come under long term capital gain and are exempted from Capital Gain tax, but as per the Union Budget 2017-18, exemption under section 10(38) from income arising on transfer of equity share acquired on or after 1st day of October, 2004 shall be available only if the acquisition of share is chargeable to Securities Transaction Tax under Chapter VII of the Finance (No. 2) Act,2004. Does this mean that shares bought through ZERODHA will not get the benefit of Long Term Capital Gain in equity as ZERODHA did not deduct any charge while shares were purchased for the purpose of investment & holding in the Portfolio?
Kindly answer this query.

Regards

Indrani Banerjee

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