Capital gain tax
This query is : Resolved
07 March 2012
Hello Friends
I have query on calulation of capital gain tax.
I got 525000 shares @ Re 1 per shares on 24.06.2008 (its a non listed company) but i have sold those shares @ 1.2 per shares on 24.11.2011. All shared transferred through NSDL and stt not paid.
I just want to know that what capial gain tax liability applicable on me.
Wether cost inflation index required ?
I have query on calulation of capital gain tax.
I got 525000 shares @ Re 1 per shares on 24.06.2008 (its a non listed company) but i have sold those shares @ 1.2 per shares on 24.11.2011. All shared transferred through NSDL and stt not paid.
I just want to know that what capial gain tax liability applicable on me.
Wether cost inflation index required ?
07 March 2012
The gain arising from sale of such shares is long term capital gain.
Since STT has not been paid on such transfer, the capital gain is not exempt.
The capital gain shall be taxable @ 20%.
You will index the cost of acquistion to arrive at the long term capital gain.
Since STT has not been paid on such transfer, the capital gain is not exempt.
The capital gain shall be taxable @ 20%.
You will index the cost of acquistion to arrive at the long term capital gain.
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