Capital gain on sale of shares of pvt. co.

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 March 2012 I have some shares in a private co. acquired in 1987 for rs.20000 now i want to sell the same for rs. 60000. what will be by capital gain tax liability. The whole internet is jumbling me for
1) 20% LTCG with benefit of indexation
2) 10% LTCG without benefit of indexation
further someone argues that flat 20% LTCG without benefit of indexation?
what will be the correct tax implication? and under what rules? plz. help me.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 March 2012 For Private company shares....exercise Option 1.
.
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