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Bonus share

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(Querist)
10 October 2013 A person holds 5000 shares in a co. Which he sold on 25-9-2012 he had acquired 2500 by way of allotment on 1-1-1998 and rest as bonus shares he got on 26-9-2010.
Please tell whether sale of bonus share a long term or short term gain.?
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
10 October 2013 As the shares are sold after 12 months as it will be long term gain..

Note: Cost of acquisition of bonus shares is taken as zero hence the capital gain on selling a bonus share is equal to its selling price.
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