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 ... Summary
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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