A guy has Bought GSK shares long back but it has been converted to HUL shares now due to merger of GSK and HUL.
Since he has sold the said converted shares this year should the assessee choose FMV as on 31/01/2018 of HUL or GSK. Should he show it as a sale of HUL or GSK shares.
Menu
Capital Gain Calculation on Converted Shares.
Replies (7)
Quick Summary
He should take the FMV of GSK on 31/01/2018. And he has to show sale of GSK shares.
If you found my answer helpful then please like my answer so that I'll be motivated to answer more 😊
If you found my answer helpful then please like my answer so that I'll be motivated to answer more 😊
As on date 31/01/2018, you held GSK shares. say it is @ Rs. 1234/- So you have to take rate of GSK only.
In May 2020, it got converted to 4.39 shares of HUL So, your COI for eaxh HUL comes to Rs. 281.0934. So, you have to show sell of HUL shares...
I have a suggestion in mind since the share statement shows as a sale of HUL we should take it as sale of HUL.
And for FMV we should take GSK value and divide it using the conversion ratio 4.39 to arrive the COA as on 31/01/2018.
Is my theory Correct or Wrong?
And for FMV we should take GSK value and divide it using the conversion ratio 4.39 to arrive the COA as on 31/01/2018.
Is my theory Correct or Wrong?
Agree with djiraj ji
Yes....
Yes ...
🙂🙂🙂
Recent Topics :
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
Related Topics :
CAclubindia
