Capital gains tax on shares
Querist : Anonymous
The remaining 42,570 shares were acquired, on various dates, after 1st April, 1981, either as a bonus issue, or arising out of amalgamation/stock splits with associated companies. The cost of acquisition of these shares is taken as NIL, and do not qualify for cost indexation.
My query is: Can assesse ‘A’ set off the capital loss of Rs.13,234/-, as above, against the capital gain on the balance of shares, and pay capital gains tax @10% on the net capital gain?
Querist : Anonymous
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