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LTCG .. FMV to be considered

This query is : Resolved 
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(Querist)
29 December 2020 Hello ..!
Mr. A was holding security prior to 31/1/2018 .
The FMV as on 31/1/2018 was 305. ( as per bhav copy of NSE).

Then company declared bonus 3: 1 .
Adjusted closing rate in same ratio comes 229.

Now calculating gain which rate to be considered 305 or 229..

Please advise urgently .. return is pending .
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 December 2020 Consider 305 for all holdings as on 31/01/2018. Bonus declared after 31/01/2018 you consider cost as zero.
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K.G.Shah

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K.G.Shah (Querist)
29 December 2020 Sir , so in case of sale of bonus share, the cost is zero.
It means entire sale proceeds of Sale of bonus shares will be long term capital gain and is taxable ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
30 December 2020 Yes it's.......................
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