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Hotspicy_10 | Is there a tax on long-term capital ganins by selling shares? I mean shares held more than 3yrs.? |
Recently l sold some of my shares which is old more than 5 years. Is there any tax I have to pay for the profit? Also what is the tax liablity for the short term gains i.e. shares sold within 5to 6 months- What document we have to enclose for assessment to prove our claim? Answers from Indian context |
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CommonCents
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Russ...
You are answering from a USA perspective.
I think that the question is from India. |
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k b
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if the shares have suffered STT and held more then a year you can claim exemption
In case of short term - flat 10% |
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kiara
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in case of shares, if u hold it for more than 12 months, then its said to become a long term capital asset. if its held for less than 12 months, then the shares are a short term capital asset. since the shares were held by u for more than 5 years, it wud be a long term capital asset and the gain wud be a long term capital gain. u have to pay tax on such gains. i think the tax shud be 10%. for short term gains also tax liability does arise. |
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vikas
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No tax for shares sold after 1 year ( Long Term Capital Gain Tax is zero in case of shares).
For shares held and sold within 1 year Tax of 10% gainon the gain i.e short term capital gain |
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delta
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there is no capital gains tax if u have help shares for MORE than 265 days. u dont have to submit any papers along with your tax return . Just a statment will do :
1.Name of company
2. number of share, date purchase and cost ( incl brokerage )
3. date of sale and amount realised ( net of brokerage and charges )
4. Amount of STT paid. ( this is reflected on the contract note given by broker )
AFTER this keep all these documents with u ( contract note and bill from broker ) for at least 8 years., |
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Honey
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No tax on selling of shares which were more than 1 year of holding. Normal tax rate attracted for other things. |
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Russ B
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Yes there is.
But, let's get rid of this fear of capital gains. It is a good thing...it generally means it is taxed a a lower rate. No it is not a tax added on top of regular taxes.
But, it actually is a capital gain after one year. Short term capital gains are taxed at your normal tax rate.
You generally don't need any documentation...as the companies are required to report these transactions. |
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Orthodox Purushottam Kabra
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No tax on long term capital gains arising from sell of shares held for more than 12 months subject to 'STT (SECURITIES TRANSACTION TAX) IS PAID ON IT. It is charged by broker and paid to the govt. It is collected on transactions of "listed" shares only.(listed on stock exchanges). Unlisted shares have different tax treatment.
Short term capital gains tax on sale of shares is 10%. |
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