Capital- gain
This query is : Resolved
Disha Singla
(Querist)
31 October 2012
What is the Relevant Date of transfer of share for computation of capital gain?
1) date on which share are transfer in Escrow A/C.
2) Date on which shares are actually transfer.
3) Date on which Consideration is received.
1) date on which share are transfer in Escrow A/C.
2) Date on which shares are actually transfer.
3) Date on which Consideration is received.
Anand Modi
(Expert)
31 October 2012
firstly clarify that why the shares are transfered to escrow account, In my opinion when you sell the shares in a demat form then the date on which you sell the shares is considered as a sell date and not the date on which you receive money
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Disha Singla
(Querist)
20 March 2013
agreement to sell the share is take place in july, after that shares were transferred in escrow account untill the agreement would be final. once agreement become final the consideration received by the seller and shares transferred to the acquirer from escrow account.
now the question is what is the relevant date of transfer in term of sec-2(47)?
now the question is what is the relevant date of transfer in term of sec-2(47)?
Anand Modi
(Expert)
20 March 2013
In my opinion:
Once the shares are transferred to an escrow account then you cannot get it back again and hence the date of sale is transfer of shares to an enscrow account.
Once the shares are transferred to an escrow account then you cannot get it back again and hence the date of sale is transfer of shares to an enscrow account.
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