capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2011 Dear all,
I have a query regarding capital gain on shares. i held n no. of shares in abc co.now abc co. is amalgamated with xyz co. and the latter has alloted n no. of shares as a result of amalagamation. now i have sold the shares so received from xyz co. and earned handsome gains. whether this will be short term or long term capital gain and wat wud be the dt. of acqusition for calculating tax on cg? moreover the same shares are listed in calcutta stock exchange.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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02 May 2011
For computing the capital gains

Period of holding -Since shares held in abc co.
*
If holding period exceeds 1 year it will be long term.
*
Cost of acquisition- Originally paid for n no. of shares in the amalgamating co. i.e. in abc co.

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