Restriction on exemption u/s 10(38) - transfer of a long term capital asset, being an equity share - No Exemption if STT is not paid - Budget 2017-18 w.e.f. 1.10.2004 (Retrospective)

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Full Text of the Document

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....ome u/s 10 The existing provisions contained in the said section provide that in computing the total income of a previous year of any person, certain categories of income shall not be included in total income. Clause 38 of the said section, inter alia, provides for an exemption from tax on the income arising from the transfer of a long-term capital asset, being an equity share in a company or a ....