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FB 2018- Exemption for Long-term capital gains with STT book LTCG before 31st March, 2018 by selling and delivery well in time before 31.03.18 taking care of Holiday.

FB 2018- Exemption for Long-term capital gains with STT book LTCG before 31st March, 2018 by selling and delivery well in time before 31.03.18 taking care of Holiday. - Budget - By: - CA DEV KUMAR KOTHARI - Dated:- 5-2-2018 - Exemption under simplified scheme of taxation: Exemption u.s.10 (38) was introduced by FA (No.2) Act 2004 w.e.f. 01.04.2005. This was as a measure of simplification simultaneously with introduction of Security Transaction Tax (STT). STT was in lieu of income-tax hence exemp .....

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ed shares have fallen heavily and chances of booking profit seems dim. However, as usual there will be some improvement in near future and one can find opportunity to book profit. Don t wait for last moment: It is desirable that profit should be booked well in advance. Last suitable trading day is 27.03.18 (Tuesday) for which settlement will be on 29.03.18 (Thursday) on basis of T+2 days. 30.03.18 Friday is a trading and settlement holiday for Mahavir Jayanti. Thereafter 31.03.18 and 1st April a .....

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be settled and delivered before 310318. Similarly in case of equity oriented units also, investors can plan to book long-term profit well in advance. Receipt of payment within 31 03 18 is not material for this purpose. Stock Exchange can make special plans: As special case Stock Exchange can plan to cancel Holidays and make arrangement for trading and settlement (Iike muhurut trading on Diwali, it can be yearend closing trading) so as to ensure delivery within 31.03.18, with help of other conce .....

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ed by author in another article webhosted on 02.02.018 on this website. The new provision is far more complex and people will find its compliance with difficulties. As per new provision LTCG subjected to levy of STT will be taxable if such LTCG exceeds Rs. one lakh in case of any assessee including FII. Amendment in S. 115AD has also been proposed to tax LTCG in hands of FII if LTCG exceed Rs.one lakh in a previous year. Therefore, in case of companies liable to tax u.s. 115JB, new provisions ma .....

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e investors used to sell securities when price was reasonably high and buy back at lower rates, after few days or months when price fell and again to hold for a period of 12 months or more and then sell at profit. In such cases rollovers at 12-15 months could bring into some gains with small cost of STT. However, after increase of GST on various related services rendered by brokers and stock exchanges transaction cost has increased. When exemption is withdrawn, such periodical roll overs of inve .....

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