how to calculate capital gains?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2010 I have over the past one and half years, been trading in stocks. I would like to know how to calculate short term capital gains. As an example:

1. Bought 50 shares of XYZ company in october 2008 at Rs. 100/- per share.

2. Bought another 40 shares of same XYZ in November 2008at Rs 70/- per share.

3. Sold 20 shares of XYZ in March 2009 at Rs. 80/- per share

4. Sold 20 shares of XYZ in June 2009 at Rs 85/-

My question is how do I calculate CGT for AY 2008 - 2009 and 2009 - 2010?

Can somebody help?

Rasesh

Rasesh (Expert)
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11 April 2010 The sale of shares is to be considered on FIFO basis. The first sale in March 2009 at Rs. 80 would mean a short term capital loss of Rs. 20/- on 20 shares for AY 08-09 and the second sale in June 2009 at Rs. 85/- would mean a short term capital loss of Rs. 15/- on 20 shares for AY 09-10.

Querist : Anonymous

Querist : Anonymous (Querist)

16 April 2010 Thanks! It is very clear how to calculate the capital gains. Is there any software to do this calculation?