CA Suhas Prabhu (Chartered Accountant) (159 Points)
28 June 2011An assessee has invested Rs. 1,00,000/- in shares of private limited company in 1993 and in 2010 he has sold the shares to another shareholder for Rs. 1,00,000/-. It is not subject to Securities Transaction Tax.
What is the capital gain or loss in this case? And whether indexation benefit can be availed?
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 28 June 2011
Long term capital Loss
Sale Consideration =1,00,000/-
Less: COA (Indexation) =1,00,000*711 / 244 = 2,91,393/-
Long term Capital Loss = Rs.1,91,393/-
Aparna Raja K.C
(Student)
(520 Points)
Replied 28 June 2011
Assuming that the
Purchase was between April 1993 and march 1994 and Sale after 31st march, 2010 -
Income from Capital Gains
Long Term
Sale Consideration =1,00,000/-
Less:indexed Cost of Acquisition =1,00,000*711 / 244 = 2,91,393/-
Long term Capital Loss = Rs.1,91,393/-
valji
(Accounts manager-MBA)
(2150 Points)
Replied 29 June 2011
i am not understanding , how the person sale shares without following cci guidelines ?
HOW the person sale shares at face value & claim capital loss ?
Abhimanyu Bind
(CA Final Student & Audit Assitant)
(2049 Points)
Replied 29 June 2011
| Originally posted by : valji | ||
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i am not understanding , how the person sale shares without following cci guidelines ? HOW the person sale shares at face value & claim capital loss ? |
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CA Adesh Gupta
(Finance Manager)
(160 Points)
Replied 29 June 2011
| Originally posted by : himanshu | ||
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Agree |
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Mukesh Kumar Singh
(CA-FINAL)
(4094 Points)
Replied 29 June 2011
Vikash Kharvar
(Dy. Manager -F&A)
(469 Points)
Replied 29 June 2011
| Originally posted by : himanshu | ||
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Long term capital Loss Sale Consideration =1,00,000/- Less: COA (Indexation) =1,00,000*711 / 244 = 2,91,393/- Long term Capital Loss = Rs.1,91,393/- |
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