Sale of share (long term)
This query is : Resolved
22 July 2013
RESPECTED ALL,
ONE OF MY CLIENT RECEIVE RS. 7 LAC ON SALE OF SHARES WHICH SHE RECEIVED FROM HER HUSBAND WHO PURCHASED THAT 20 YEARS BACK. NOW SHE DON'T KNOW THE PURCHASE PRICE TOO. PLZ GUIDE ME IS IT TAXABLE OR NOT, IF TAXABLE HOW CAN I CALCULATE TAX
THANKS & BEST REGARDS
ONE OF MY CLIENT RECEIVE RS. 7 LAC ON SALE OF SHARES WHICH SHE RECEIVED FROM HER HUSBAND WHO PURCHASED THAT 20 YEARS BACK. NOW SHE DON'T KNOW THE PURCHASE PRICE TOO. PLZ GUIDE ME IS IT TAXABLE OR NOT, IF TAXABLE HOW CAN I CALCULATE TAX
THANKS & BEST REGARDS
22 July 2013
if STT is paid, LTCG from sale of shares is exempt
Message likes :
1 times
22 July 2013
Agree wiht pooja jee
if you have sold the shares in recognised stock exchange then STT have been paid for such sale. In that case, capital gain is exempted.
If the shares are not sold through receonised stock exchage then STT not have been paid then you have to pay LTCG
if you have sold the shares in recognised stock exchange then STT have been paid for such sale. In that case, capital gain is exempted.
If the shares are not sold through receonised stock exchage then STT not have been paid then you have to pay LTCG
Message likes :
1 times
22 July 2013
thanks Pooja ji,,,, thanks Umesh ji for ur guidance,,,,,,
23 July 2013
ONE THINGS MORE MY CLIENT HAS NO IDEA WHAT IS THE PURCHASE PRICE OF ALL SHARE SOLD I.E RS. 7 LAC, HOW CAN I CALCULATE THE LONG TERM CAPITAL GAIN & WHAT WOULD BE THE AMOUNT OF CAPITAL GAIN
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
