CAPITAL GAIN ON GIFTED UNLISTED SHARES
This query is : Resolved
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SUNIL KAMAT
(Querist)
16 May 2022
MY FATHER HOLDS 1000 UNLISTED SHARES OF A COMPANY (DATE OF ACQUISITION 01.04.2005) AND COST OF ACQUSITION FOR HIM IS RS.10,000/- . HE GIFED THE SAID SHARES TO ME ON 01.04.2022 NOW I WANT TO SOLD THE SAME. MY QUERY IS WHAT IS THE COST OF ACQUISITON FOR ME AND WHETHER IT IS SHORT TERM OR LONG TERM CAPITAL GAIN ? ALSO IF IT IS LTCG CAN I GET INDEXISATION BENEFIT ? AND AT WHAT RATE THE CAPITAL GAIN WILL BE TAXED ?
CA R SEETHARAMAN
(Expert)
16 May 2022
1 cost of acquisition is 10,000.
2 It's long term capital gains taxable at 20% with indexation benefits.
2 It's long term capital gains taxable at 20% with indexation benefits.
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CA Puja Sharma
(Expert)
16 May 2022
1. Cost of acquisition 10,000
2. LTCG
3. Yes you can indexation benefit.
4. Rate of tax - 20%
2. LTCG
3. Yes you can indexation benefit.
4. Rate of tax - 20%
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