Relief for genuine share transfers as govt softens capital gains tax blow

CBDT lists three scenarios where securities transaction tax would be levied

Providing relief to genuine transactions where the securities transaction tax (STT) was not paid at the time of purchase of shares, the government on Monday proposed to keep these out of the purview of the capital gains tax, introduced in the Finance Act, 2017. 

The Central Board of Direct Taxes (CBDT) has proposed three scenarios where the capital gains tax would be levied and has kept other transactions out of the purview. 

“The CBDT has done the right thing by keeping the exceptions to the capital gains tax to the minimum. This will allay the fears of investors,” said Amit