Regarding long term capital gain.
This query is : Resolved
CA Nimesh Khandelwal
(Querist)
29 March 2011
Dear sir,
I have some shares of companies which i have received on allotment by company and held for more than 12 months and now i sell those shares please tell me how to calculate the long term capital gain.
I have some shares of companies which i have received on allotment by company and held for more than 12 months and now i sell those shares please tell me how to calculate the long term capital gain.
Aditya Maheshwari
(Expert)
29 March 2011
If selling in market and paying STT on sale then no tax on gain as same exempt u/s 10(38).
If selling shares of unlisted companies then calculate indexed cost of acquisition and the difference between sales price - indexed cost is gain taxable @ 20%
If selling shares of unlisted companies then calculate indexed cost of acquisition and the difference between sales price - indexed cost is gain taxable @ 20%
CA.ViVeK M ACA
(Expert)
29 March 2011
if STT is paid then there is no question of taxability of capital gain else following calucualations are warranted
20 % on the amount arrived at with indexing
or
10 % of the amount arrived at without indexing whichever is more beneficial to the assessee is concerned
20 % on the amount arrived at with indexing
or
10 % of the amount arrived at without indexing whichever is more beneficial to the assessee is concerned
Aditya Maheshwari
(Expert)
30 March 2011
the 10% option without indexation option is only in case of listed shares and not unlisted shares.
CA. Lohith Jagadeesh
(Expert)
31 March 2011
Hi,
Very Rightly said by Mr. Aditya about the 10% rate.
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Very Rightly said by Mr. Aditya about the 10% rate.
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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