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        Case ID :
        Income Tax

        Whether Shares acquired as Gift from someone, are eligible for exemption u/s 10(38) at the time of sale?

        17 May, 2018

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        Manual - Exempted Income u/s 10 - Income Specific

        Yes, but previous owner should not have acquired in condition as mentioned u/s 10(38).

         

        Exemption under Section 10(38) applies to gifted shares on sale if the prior owner did not acquire them in a disqualifying manner. Shares received as a gift are eligible for exemption under Section 10(38) on sale, provided the previous owner did not acquire the shares in a manner or under conditions that disqualify them from the exemption.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Exemption under Section 10(38) applies to gifted shares on sale if the prior owner did not acquire them in a disqualifying manner.

                              Shares received as a gift are eligible for exemption under Section 10(38) on sale, provided the previous owner did not acquire the shares in a manner or under conditions that disqualify them from the exemption.


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