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CA Pramod Prabhudesai

I have prepared a chart on the subject matter of Capital Gain for FY 2014-15 on Shares and Mutual Funds after considering the recent amendments related to changes in taxation of shares and Mutual fund and Considering the complexity involved in the matter. I have tabulated information for quick reference and the same are self explanatory :-

Capital Gains for Resident Individual & HUF – F.Y. 2014-15
Nature of Asset
Holding Period
Date of Sale
Whether STT Paid
Long Term/ Short Term
Whether Eligible for Concessional Rate of 10%
Whether Indexation Permitted
Whether Exempt
Remark
Listed Equity Shares
Less than 12 months
Prior to 10-07-2014
Yes
Short Term
Not Applicable
Not Applicable
No
Taxable at 15%
Listed Equity Shares
More than 12 months
Prior to 10-07-2014
Yes
Long Term
Yes – Condition redundant since exempt
Yes – Condition redundant since exempt
Yes
Exempt u/s 10(38)
Listed Equity Shares
Less than 12 months
After 10-07-2014
Yes
Short Term
Not Applicable
Not Applicable
No
Taxable at 15%
Listed Equity Shares
More Than 12 months
After 10-07-2014
Yes
Long Term
Yes – Condition redundant since exempt
Yes – Condition redundant since exempt
Yes
Exempt u/s 10(38)
Equity Oriented MF
Less than 12 months
Prior to 10-07-2014
Yes
Short Term
No
No
No
Taxable at 15%
Equity Oriented MF
More than 12 months
Prior to 10-07-2014
Yes
Long Term
No
No
Yes
Exempt u/s 10(38)
Equity Oriented MF
Less than 12 months
After 10-07-2014
Yes
Short Term
No
No
No
Taxable at 15%
Equity Oriented MF
More Than 12 months
After 10-07-2014
Yes
Long Term
No
No
Yes
Exempt u/s 10(38)
Unlisted Shares
Less than 12 months
Prior to 10-07-2014
Not Applicable
Short Term
No
No
No
Taxable at Slab Rates
Unlisted Shares
More than 12 months
Prior to 10-07-2014
Not Applicable
Long Term
No
Yes
No
20% with indexation
Unlisted Shares
Less than 36 months
After 10-07-2014
Not Applicable
Short Term
No
No
No
Taxable at Slab Rates
Unlisted Shares
More Than 36 months
After 10-07-2014
Not Applicable
Long Term
No
Yes
No
20% with indexation
Debt Oriented MF
Less than 12 months
Prior to 10-07-2014
Not Applicable
Short Term
No
No
No
Taxable at Slab Rates
Debt Oriented MF
More than 12 months
Prior to 10-07-2014
Not Applicable
Long Term
Yes
Yes
No
10% /
20% with indexation
Debt Oriented MF
Less than 36 months
After 10-07-2014
Not Applicable
Short Term
No
No
No
Taxable at Slab Rates
Debt Oriented MF 1
More Than 36 months
After 10-07-2014
Not Applicable
Long Term
No
Yes
No
20% with indexation

(Author is partner with B. D. Jokhakar & Co. Chartered Accountants, Mumbai)

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0 Comments

  1. rajkumar gupta says:

    Thanks for useful data. However one point is missing towards listed equity share sold after one year and STT not paid i.e purchased prior 20 year (STT not applicable at the time of purchased and physical share dematerlized at the time demate system started by SEBI.

    Pl reply

  2. Ishwar chand says:

    Well presented . what about short term gain/loss on shares of listed company sold off market ( No STT paid ) whether loss on such sale be adjusted against short term capital gain STT paid

  3. CA ANAND S SANDU says:

    READ YOUR CHART WITH INTEREST.CERTAINLY IT GIVES IMP NOTES OF CAPITAL GAINS WITH REF TO SHARES.
    A GOD EFFORT, APPRECIATED.
    THX

    CA ANAND S SANDU

  4. D BALASUBRAMANIAN says:

    If an individual has Short Term Capital Gain (STT Paid) Rs.31432/- and

    Long Term Capital Loss (STT Paid) Rs. (-)31682/- Whether it can be adjusted ?

  5. Rajendra Parikh says:

    Thanks for very useful data. However,for sale of shares of limited co. bought back by co.without stt payment and purchased three years back and surrendered last month, what would be the implications. Whether the long term capital gain could be adjusted with carried forward LT losses.
    Please guide.

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