Tax on Sale of Inherited Shares

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  1. Neena Pawar

    Neena Pawar New Member

    Hi Karan
    You mean if they were held by me for a year or a year since they were bought by my grand mom ? Yes I sold them through Demat account of HDFC..
     
  2. Karan Batra

    Karan Batra Well-Known Member

    @Neena Pawar : Capital Gains would be exempted if these shares were held for more than 1 year from the date of purchase by your grandmother
     
  3. Neena Pawar

    Neena Pawar New Member

    That means I don't have to pay any tax ? My grand mother bought these shares around 50 years or more ago then they were transferred to my parents and after they passed away in 2001 we got them through succession certificate made by court
     
  4. ZED

    ZED Well-Known Member

    Yup, so I said that there shall be no tax, bu this gain should be shown under exempted income
     
  5. Karan Batra

    Karan Batra Well-Known Member

    Yes, you are right - you dont have to pay any tax on the sale of these shares
     
  6. Karan Batra

    Karan Batra Well-Known Member

    Neena Pawar likes this.
  7. Neena Pawar

    Neena Pawar New Member

    Thanks so much ...
     
  8. Neena Pawar

    Neena Pawar New Member

    Wow you have made it very clear . I have sent a mail to Zed explaining everything ..
     
    Karan Batra likes this.
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