LAST TIME I WAS ASKED SAME QUESTION BUT I HAVE NOT RECEIVED ANY REPLY. SO I AM AGAIN ASKING SAME QUESTION I HAVE SOME LITTLE CONFUSION REGARDING LONG TERM CAPITAL GAIN.
ONE OF MY CLIENT SOLD HIS SHARES IN DIFFERENT DATES IN MONTH OF AUGUST, SEP, OCT, NOV, DEC 2018. HE BOUGHT SHARES FACE VALUE RS. 10/- IN THE YEAR 1995. EACH SHARES TOTAL 500 SHARES. HE HAS SOLD IN DIFFERENT DATES. 216000/- 206781/-, 196065/- 210724/- AND 211451/- TOTAL 10,41,021/-. SO MY QUESTION IS HOW TO CALCULATE LTCG SECTION FMV U/S 55(2) AC MEANS FMV AS ON 31ST JANUARY 2018. WAS PER SHARE 1960/- MEANS 500* 1960=980000/- FMV LESS ON AMOUNT 10,41021/- REMAINING IS TAXABLE AS LTCG IS CORRECT. CALCULATION
CAclubindia
