Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2014
My client has purchased 100 shares in listed company for a sum of Rs.150/- per share in January 2014. Subsequent the company issued Bonus shares in the ratio of 1:1 in June 2014. The Ex bonus rate is Rs.75/-. If he sell 100 shares of Original Purchase, there will be a short term loss of Rs.75/- per share. Whether he is eligible to claim Short Term Loss.
Nikhil Kaushik
(Expert)
08 June 2014
yes there will be a short term capital loss.
when you will sell the bonus shares, the cost of acquisition shall be zero.
section 94(7)/94(8) wont apply
when you will sell the bonus shares, the cost of acquisition shall be zero.
section 94(7)/94(8) wont apply
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