LTCG on inherited equity shares bought before 31-1-2018

This query is : Resolved

Ravindra Patil (Querist)
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18 February 2022 I inherited shares from my father after his demise in Sept. 2019.
My father had bought those shares before 31-1-2018.
The shares were transferred (by off-market transfer) to my demat a/c in March 2020.

As this was transfer without payment of consideration, the cost of acquisition for me would be my father's purchase price.

My query :
I sold some of the shares last month.
As those shares were purchased by my father before 31-1-2018, can I apply FMV (as per grandfathering clause) while calculating my LTCG?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 February 2022 Yes, you can apply grandfathering clause.

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LTCG on inherited equity shares bought before 31-1-2018

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