Tag Archives: Section 10(38)

Chargeability to STT for claiming exemption : CBDT notifies transactions

By | June 6, 2017

CBDT notifies transactions for which the condition of chargeability to STT for claiming exemption under Section 10(38) of the Income Tax Act, 1961 shall not apply. Section 10(38) of the Income-tax Act, 1961 (‘the Act’), prior to its amendment by Finance Act, 2017 provided that the income arising by way of a transfer of long term capital… Read More »

CBDT issued draft Notification for Taxability of Non STT Shares

By | April 4, 2017

Central Board of Direct Taxes requests for stakeholder’s comments on draft of Notification to be issued Under Section 10(38) of the Income-tax Act, 1961 Section 10(38) of the Income-tax Act, 1961 (‘the Act’), prior to its amendment by Finance Act, 2017, provided that the income arising by way of a transfer of long term capital asset, being… Read More »

Define penny stock and expand Exemption list u/s 10(38) – Budget 2017-18 Suggestions

By | March 4, 2017

Suggestions on Clauses 6 of Finance Bill 2017 – Section 10(38) – Exemption of long term capital gains subject to payment of STT on acquisition – bona fide transactions to be notified by the Central Government for exemption even if STT not paid on acquisition Section 10(38) of the Income-tax Act, 1961, inter alia, provides… Read More »

Income of charitable institutions excludes income exempt u/s 10

By | September 9, 2015

Whether in computing income of charitable institutions exempt under section 11, income exempt under section 10 has to be excluded ? or Whether requirement in section 11 with regard to application of income for charitable purposes does not apply to income exempt under section 10 ? Upon perusal of sections 10 and 11 it is… Read More »