Capital gain
Sir
I am a accountant. I want your kind advise on capital gain on sale of Equity Shares.
I have some shares of a listed co in 2004 but I don't know the purchase price. I have sold those shares in 2015. What will be taken the purchase price for computation of capital Gain. These are in Demat Form.
Pl advise.
Regards
Sanjay
Replies (5)
If equity shares of a listed company are held for more than 12 months, then these are considered as long term capital gain and such capital gain is exempt from tax.
Therefore you are not required to pay any capital gain tax on them
YES Prateek is right,
On the safer side you assume the face value of shares as your purchase price and calculate LTCG that is exempt u/s 10 (38).
Section 10(38) is applicable in case of LTCG arising on transfer of equity shares or units of equity oriented mutual-fund which are transferred on or after 1-10-2004 through a recognised stock exchange and such transaction is liable to securities transaction tax.
You should roughly check the rates of such shares on date of purchase from website such as money control.......and show it as purchase prices....on such website graph is available for all shares from which you can check its prices
@ Ajit Hegde is right but sir do you know about debt oriented mutual funds?
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