Valuation & taxation of Shares if cost is not available
This query is : Resolved
21 November 2021
Respected Sir,
I am doing accounting for one of the person wherein now I am facing one problem, they have few scripts bought at the time of allotment starting from year 1989 to 1995.
There are several bonus and split transactions occurred during this time period
Now the client expired and her spouse being joint holder also in process of complying all relevant formalities including transfer of shares. few scripts were sold in march by the spouce for her treatment but I am unable to ascertain the cost price as I don`t have the exact cost and split transaction history
Even if I consider FMV as on 31.03.2018, I have to ascertain cost of those few scripts.
Will someone please resolve this as I have to file the ITR and before filing I have to go through all aspects
Regards
Tribhuvan
I am doing accounting for one of the person wherein now I am facing one problem, they have few scripts bought at the time of allotment starting from year 1989 to 1995.
There are several bonus and split transactions occurred during this time period
Now the client expired and her spouse being joint holder also in process of complying all relevant formalities including transfer of shares. few scripts were sold in march by the spouce for her treatment but I am unable to ascertain the cost price as I don`t have the exact cost and split transaction history
Even if I consider FMV as on 31.03.2018, I have to ascertain cost of those few scripts.
Will someone please resolve this as I have to file the ITR and before filing I have to go through all aspects
Regards
Tribhuvan
21 November 2021
For bonus shares take the COI as '0'.
For others take FMV as on 31.01.2018; from the list in the link....
https://maxutils.com/income/ltcg-bse31jan
For others take FMV as on 31.01.2018; from the list in the link....
https://maxutils.com/income/ltcg-bse31jan
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23 November 2021
Respected Sir,
Thanks for replying,
the FMV i shall take it from the list provided but please let me know how to consider the valuation scriptwise as mentioned in my email the scripts bought during the period 1989 to 1995 and I have only total investments cost no script wise bifurcation
Regards
Tribhuvan
Thanks for replying,
the FMV i shall take it from the list provided but please let me know how to consider the valuation scriptwise as mentioned in my email the scripts bought during the period 1989 to 1995 and I have only total investments cost no script wise bifurcation
Regards
Tribhuvan
23 November 2021
As you will be taking FMV of each script as on 31.01.2018 as COA, you do not require bifurcation any more. LTCG will be calculated from the FMV itself.
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