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?
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?