sanjay shah (properitor) (71 Points)
14 July 2018Incase of sale of listed equity shares after 1-4-18 what value of cost price do we take in case of loss.
Ex- cost of shares purcgased say 10 years ago is 100/- per share.Fair market value as on 31/1/18 is Rs 5/- and sold at rs 4 on 5th may 2018.
Shld we consider cost of purchase as Rs 100 and get a long terms capital loss of Rs 96 or otherwise?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160976 Points)
Replied 14 July 2018
"Should we consider cost of purchase as Rs 100 and get a long terms capital loss of Rs 96.."
Yes, Correct .....
CA Swati Agarwal
(Employed)
(73 Points)
Replied 14 July 2018
Hi,
In Case U have been recoding stock at CMP, then loss will be calculate (5-4)*NO. of shares as the rest of the losses you have recorded earlier while recording the shares at CMP.
OR else if the above is not followed , then ypu have to calculate loss (100-4) i.e Rs 96*NO.of shares.
Regards
CA Swati Agarwal
CA Swati Agarwal
(Employed)
(73 Points)
Replied 14 July 2018
Hi,
In Case U have been recoding stock at CMP, then loss will be calculate (5-4)*NO. of shares as the rest of the losses you have recorded earlier while recording the shares at CMP.
OR else if the above is not followed , then ypu have to calculate loss (100-4) i.e Rs 96*NO.of shares.
Regards
CA Swati Agarwal
sanjay shah
(properitor)
(71 Points)
Replied 14 July 2018
Thks for your reply but I did not understand "recording share at CMP".Can you pls explain.
CAclubindia
