capital gain -BY MANOJ

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manoj rathod (Querist)
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24 June 2011 res sir/madam PLS URGENT
if i purchase 10 shares(Rs.13000) of ongc on 1 jan 2011,i got bonous 10 shares on 1 mar 2011.
what will be my profit if i sale the 20 shares to 40000 on 15 jan 2012.

what will be purchase price as per it rule 26000 or 13000
how should i calculate short term & long term profit in above situation

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 June 2011 1. Calculation of Capital Gains will be done on the basis of period of holding and as such bonus shares are to be treated as short term capital asset as held less than a year having 0 cost of acquisition.

*
2. STCG on sale of Bonus shares 20000
(Taxable @ 15%
*
3. LTCG on sale of Original Shares 20000-13000= 7000; Exempt
*
4. Congratulations for earning hefty profits!!!

manoj rathod

manoj rathod (Querist)
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25 June 2011 thank you for ur reply resp.bafnaji

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