Capital Gain Tax on Off Market Shares

This query is : Resolved

Keyur (Querist)
Follow

24 June 2024 Sir/Madam

I have one question regarding off market shares transferred to spouse account during the fy-2023-24. This share are sold by spouse after transferring shares from her husband.

Now we have to calculate capital gain tax of sale of off market transaction. In this case what is the date of purchase for calculating capital gain tax?? Date of purchase of Husband? or date transfer shares to her demate account??

And to whom capital gain is taxable ??? Husband or her spouse. shares are sold from her demate account.

thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 June 2024 It's date of purchase of husband.
Capital gains is taxable in the hands of husband under clubbing provisions.

Keyur

Keyur (Querist)
Follow

24 June 2024 Husband is filed his return of income then he has to file revised return??

Can i show capital gain in the hand of spouse instead of husband. Spouse income is below taxable limit!!!

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 June 2024 Yes, file revised return.
It can't be shown in spouse income.

Keyur

Keyur (Querist)
Follow

24 June 2024 thank you sir for prompt reply to me.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 June 2024 You are welcome...
...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anant Kuber

Aayesha mulani

Vishal Kapadiya

Rakesh Maner

THUSHAR MURALI KRISHNA

Subscribe Now

Capital Gain Tax on Off Market Shares

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Senior execiutive

Accountant

Article Assistant

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY