Q.

Long term capital gain on sale of equity share through stock exchange

A. is exempt u/s 10(38)
B. is exempt u/s 10(37)
C. is covered u/s 111A, hence liable to tax @ 15%
D. is taxable @ 20% and @ 10% if index benefit is not claimed.
Answer» A. is exempt u/s 10(38)
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