Tax on Profit on Purchase of Shares
This query is : Resolved
01 August 2009
ABC PVT LTD Co issue shares to Mr.Sharma at par. the face value of shares is Rs.10/-each.
After 8 month Mr.Sharma sold(Transfer) these shares to Mr.Gupta at Rs.2/-each.
in this transaction mr. Sharma suffered a loss of Rs.8 per share.
what we will be tax implication in above transaction.
is there any changes/proposal in finance act 2009 regarding profit on purchase of shares in hands of Mr.Gupta.
pls reply at earliest.
thanks in advance
After 8 month Mr.Sharma sold(Transfer) these shares to Mr.Gupta at Rs.2/-each.
in this transaction mr. Sharma suffered a loss of Rs.8 per share.
what we will be tax implication in above transaction.
is there any changes/proposal in finance act 2009 regarding profit on purchase of shares in hands of Mr.Gupta.
pls reply at earliest.
thanks in advance
01 August 2009
Whether it is LTCG loss or STCG loss.
If it is LTCG then it will not allowed to be set off.
If it is STCG , then it will be allowed to set off.
If it is LTCG then it will not allowed to be set off.
If it is STCG , then it will be allowed to set off.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- Reporting of STCG on Property in ITR
- ITR-4 vs ITR 5
- 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.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
