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Capital gain on share

Tax queries 243 views 4 replies

Audit Executive

B.Com

53 Points Posted on 13 September 2020

Very old shares sold in year 2019 , cost of acquisition is not known .. shares are very old exact year of purchase is not known it may be period of 1990 to 1993. What to do while filing ITR 2

What to do with cost of acquisition

Replies (4)

CA. Umesh kumar

ca.umesh11@gmail.com

1465 Points Posted on 13 September 2020

Cost of acquisition or fair market value as on 01.04.2001 whichever is more beneficial is to be taken as cost of acquisition.

Audit Executive

B.Com

53 Points Posted on 13 September 2020

How to know FMV of these share

CA Raj Doshi

Practising CA

8954 Points Posted on 14 September 2020

Take the High Figure on 01.04.2001. Go to NSE --- Search for scrip - Go to Archives

Regards
CA. Raj Doshi
R C D & Co.
Chartered Accountants
E :raj @ rcdco.in

Aman Verma

209 Points Posted on 14 September 2020

FMV as on 1.4.2001 as on date of purchase which ever is higher shall be taken as COA see BSE website for earlier price.
Indexation will apply taking 2001 as base year