Tax on Profit on Purchase of Shares
This query is : Resolved
narendra khandelwal
(Querist)
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.
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