LTCG on inherited equity shares bought before 31-1-2018
This query is : Resolved
Ravindra Patil
(Querist)
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?
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
(Expert)
18 February 2022
Yes, you can apply grandfathering clause.
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