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)
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