Capital Gain Tax on Shares purchased in 1994

Q & A ForumCategory: Stocks/SharesCapital Gain Tax on Shares purchased in 1994
kagashe asked 8 years ago
I was allotted 50 shares of SBI of Face Value Rs 10 at a premium of Rs 90 i.e. my investment was Rs 5000/- in March 1994. Subsequently I got 500 Shares of Face Value Rs 1/-. Recently I opened Demat account and the 500 SBI Shares can now be sold fetching Rs 1.3 Lacs. I have read that the income from sale of Shares after 12 months is not taxable but does it apply to Shares bought in 1994?
1 Answers
Sreekanth Staff answered 8 years ago
Hi, Yes, the gains (if any) on sale of your Shares are tax-free.
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