Long term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2012
Please state when shares are received in Gift from relative and sold after few year then Indexation cost for Long Term capital Gain of Gifted shares calaculted whether from date of Purchase of Shares by relative or period or date on which gifted Shares received ?.
28 May 2012
The period of holding of the previous owner,
i.e. the donor, also will be considered.
.
So, You have to take the Date of purchase by the relative into consideration and period of holding will be from such date to the date when you transfer the shares.
.
LTCG on shares will be exempt in case of listed shares.
.
i.e. the donor, also will be considered.
.
So, You have to take the Date of purchase by the relative into consideration and period of holding will be from such date to the date when you transfer the shares.
.
LTCG on shares will be exempt in case of listed shares.
.
28 May 2012
In case of transfer by gift, will, trust, etc indexed cost to be determined with reference to holding by previous owner
cASE LAW- Arun Shungloo Trust vs. CIT (Delhi High Court)
cASE LAW- Arun Shungloo Trust vs. CIT (Delhi High Court)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Lease agreement and tax on sale
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- Entries in AIS regarding sale of units and shares
- Internship/Academic shown in Salary Pay Slip of a Doctor
- CCFS 2026 Schemed
- House Property Reporting in ITR
- TDS Claim year
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
