Question ID :
38044
171879
ASSESSEE HAS ACQUIRED SHARES THROUGH PRIVATE PALCEMENT IN THE YEAR 2006 WHEREIN STT WAS NOT PAID. LATER ON SHARES OF THE COMPANY GOT LISTED IN YEAR 2016.
ASSESSEE SOLD SHARES IN THE FINANCIAL YEAR 2018-19. SO IS BENEFIT OF SECTION 10(38) AVAILAIBLE??
THANKS IN ADVANCE.
Posted by
BHAIRAV P JAIN
on
Mar 22, 2019
Filed Under
Capital Gains
Shares acquired on private placement is part of preferential allotment . And preferential allotment comes under 10(38).
YES the benefit of 10(38) should be available
Posted by
CA. BISHT RAKESH on
Mar 22, 2019
Answer ID :
76403
As per the third proviso of the section 10(38) this transaction get benefit of section 10(38).
Posted by
CA. JHA SHANKAR KUMAR on
Mar 23, 2019