Long term capital gain

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raghavendra b (Querist)
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04 September 2019 DEAR SIR,

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

PLEASE I WAITING FOR YOUR REPLIES

REGARDS

Amol S Joglekar

Amol S Joglekar (Expert)
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04 September 2019 you can get the closing price as on 31/01/2018

raghavendra b

raghavendra b (Querist)
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04 September 2019 thank you sir your quick reply,

the calculation is correct i can declare there is no long term capital gain on such transaction.

regards

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 September 2019 LTCG is Rs. 61,021. ie, sale value minus FMV as on 31-1-2018. This calculation is
as per section 112A r.a.w section 55(2)(ac)..

raghavendra b

raghavendra b (Querist)
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05 September 2019 THANK YOU SIR,

STILL I AM NOT FILED HIS INCOME TAX RETURN HE IS SENIOR CITIZEN. SO AS PER THE CALCULATION I CAN FILE INCOME TAX RETURN WITHOUT ANY TAX LIABILITY.

REGARDS

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