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Income tax on bonus share

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 August 2010 suppose co. have 1000 share of XYZ.LTD. @ Rs.500 each, & XYZ Ltd. declear bonus 1:1,and as usual share price became Rs 250/-.Co. sold its 1000 share @ 250/- then could the co be able to book the loss on sale of share i.e. 250/- per share ?
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Rasesh

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Rasesh (Expert)
14 August 2010 Absolutely Yes. Our roads and laws have a lot of potholes. This is one of them.
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