Cap gains
This query is : Resolved
03 March 2014
Hello sir, there is a query regarding cap gains. A person has signed an agreement for sale of unlisted shares and has received only some advance against such sale.Will the advance b taxable in d yr of receipt?? Also on what basis the cost of acquisition of shares will b decided??
03 March 2014
1. Capital gain will arise when the shares are actually TRANSFERRED.
It does NOT arise when advance is received.
2. Cost of acquisition is the cost for which the shares were acquired.
It does NOT arise when advance is received.
2. Cost of acquisition is the cost for which the shares were acquired.
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