CBDT proposes norms for tax benefits for genuine equity deals
As per the Finance Act, 2017, the income arising by way of a transfer of long-term capital asset, being equity share in a company, will be exempt from tax if such transfer is undertaken after October 1, 2004 and chargeable to Securities Transaction Tax (STT).
The CBDT has invited comments from stakeholders on the draft notification by April 11. Photo: Pixabay