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Income Tax Exemption under Section 10(36) of Income Tax Act, 1961

Eligible Assessee

Any assessee

Nature of Income

Long term capital gains on transfer of eligible equity shares

 

Amount Exempt

Entire amount

 

Conditions laid down for Tax Exemption u/s 10(36)

1. The transfer took place after 1.3.2003 but before 1.3.2004.
2. Transactions are entered into on a recognized stock exchange
3. eligible equity shares mean

• share of company being part of BSE-500 as on 1.3.2003

or

• shares of company allotted in public issue on or after 31.3.2003 and the company is listed on recognized stock exchange before 1.3.2004

 

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Important Due Dates

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