Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2011
Sir,
i buy a shares of Rs. 100000\= in private placement on around 1.4.2006.
now IPO comes in year 2010, on a listing day above shares sold in NSE\BSE market rs. 500000/=.
so i earned rs. 400000/.
in same year fy 2010-11 i incurred STC Loss rs. 200000\=.
so what is my tax position.
nishant sheth
IPCC Student
i buy a shares of Rs. 100000\= in private placement on around 1.4.2006.
now IPO comes in year 2010, on a listing day above shares sold in NSE\BSE market rs. 500000/=.
so i earned rs. 400000/.
in same year fy 2010-11 i incurred STC Loss rs. 200000\=.
so what is my tax position.
nishant sheth
IPCC Student
13 November 2011
Your Tax position is good.
.
Had you raised this query prior to 31.07.2011, this STCG of Rs 200000/- could be c/fd to the next year and your position will be very solid as your return could be submitted and you would be eligible to c/fd the loss.
.
LTCG of Rs 4.00 lac is exempt.
.
Set off is not allowable as you have to first calculate source*wise income.
.
.
Had you raised this query prior to 31.07.2011, this STCG of Rs 200000/- could be c/fd to the next year and your position will be very solid as your return could be submitted and you would be eligible to c/fd the loss.
.
LTCG of Rs 4.00 lac is exempt.
.
Set off is not allowable as you have to first calculate source*wise income.
.
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