Practical problem on capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

05 February 2012 Mr.A purchase in February 1982 1,000 equity shares for RS.64,000 and paid RS.2000 as brokerage. the company issued 300 bonus shares in 1984. A sold 500 original shares and 300 bonus shares @ Rs.400 per share On June 2010 and paid brokerage Rs.2,500. Compute capital Gain if A invested Rs3,00,000 in purchase a new residential house in December 2010. the Cost of index in 1981-82= 100 and 2010-11 = 711. please give me solution..

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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06 February 2012 Computation of Capital Gain
1. Original Shares
Period of holding:Feb 1982 to June 2010
Nature of Capital Gain:Long Term

Sale Consideration (500*400) 2,00,000
Less: Brokerage (2,500*500/800) 1,562.50
Net Sale Consideration 1,98,437.50
Less: Indexed Cost of Acquisition
(64,000+2000/1,000*500)*711/100 2,34,630
Long Term Capital Loss 36,192.50

2. Bonus Shares
Sale Consideration (300*400) 1,20,000
Less: Brokerage (2,500*300/800) 937.50
Net Sale Consideration 1,19,062.50
Less: Cost of Acquisition NIL
Long Term Capital Gain 1,19,062.50
Less: Exemption u/s 54F 1,19,062.50
Taxable LTCG NIL

Net Long Term Capital Loss Rs. 36,192.50

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Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2012 Thanks Sir for Solving my query...

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