There was a transfer of unit of Business trust. STT was not paid at the time of purchase but it was paid at the time of transfer. Will long term Capital Gains be taxable u/s 112A
A. No, as STT must have been paid at the time of purchase and at the time of transfer.
B. Yes, on excess, if Capital Gains from transaction exceed ₹ 1,00,000.
C. Yes entire Capital Gains will be taxable irrespective of amount.
D. Yes if Capital Gains exceed ₹ 1,00,000, entire Capital Gains will be taxable.
Answer:B
There was a transfer of unit of Business trust. STT was not paid at the time of purchase but it was paid at the time of transfer. Will long term Capital Gains be taxable u/s 112A
A. No, as STT must have been paid at the time of purchase and at the time of transfer. B. Yes, on excess, if Capital Gains from transaction exceed ₹ 1,00,000. C. Yes entire Capital Gains will be taxable irrespective of amount. D. Yes if Capital Gains exceed ₹ 1,00,000, entire Capital Gains will be taxable.