Answer with reference to a recent case?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2013
What would be the period of holding to determine whether the capital gains on renunciation of right to subscribe for additional shares is short-term or long-term?
CA PARAS BAFNA
(Expert)
30 June 2013
The holding period of renunciation of right is calculated from the date of offer made by the company to the date when the right is renounced. If it is shorter than 1 year the premium received will be Short term Capital Gain for the person renouncing the right.
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