Bonus Shares w.r.t Budget2018 Grandfathering Clause

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KJS (Querist)
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31 July 2020 Can someone answer the following case?

No. of shares bought: 1
Date of Acquisition: 1/Dec/2012
Cost of Acquisition: 100

FMV (on 31/Jan/2018) as per grandfathering clause: 1000

Bonus Issued (1:1): 1/6/2019, market price becomes less than half

2 shares sold: 31/03/2020
Sale Price: 450

How is the capital gains tax to be calculated on the sale of bonus share?
Is the grandfathering clause applicable? How?

Thanks

CA KARAN SINGH

CA KARAN SINGH (Expert)
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31 July 2020 There will be short term capital gain on the sale of bonus shares. As the holding period was less than 12 months. STCG = Rs. 450 [Sale Price (Rs. 450) - COA (Rs. 0)].
Also grandfathering clause will not be applicable as the bonus shares were received after 31/1/2018. But the clause will be applicable on sale of original shares.

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