Capital gains query

 

Request you to provide answer for the question given below:-

X, a non resident remits $40000 to India on April 4, 1987. The amount is partly utilised in purchasing the following assets on April 10,1987.

Silver     10kg for   Rs30000

Shares in Indian Co.(unlisted)----- 2000 shares for Rs24000

X transfer these assets on June 10,2010 for total consideration of Rs. 850000( silver for Rs.70000; Shares for Rs. 780000).

Compute capital gains for AY 2011-12


The telegraphic transfer buying/ selling rate of US dollar adopted by SBI is as follows:-

 Buying(1 $)  ----   Rs. 17.50---- April 10,1987

                                Rs. 28.30---- June 10, 2010


Selling( 1$)----   Rs. 18.10---- April 10, 1987

                              Rs. 29.10---  June 10, 2010


 
Replies (2)

Hello...u can compute fr silver as we normally do...

fr shares..

 

Sale consideration- (as per abg rate on date of transfer)=  780000/{(28.3+29.1)/2} = 27177

COA= (as per avg rate on date of acquisition = 24000/{(17.5+18.1)/2}= 1348.3

 

long term capital gain= $25828.7 = on basis of bying rate on date of transfer= 25828.7*28.3= 730952

No indexation would be done fr shares...calculate fr silver separately..

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
14 August 2026
Semi Qualified

Goyanka & Associates

New Delhi

CA Inter

View Details
Company
13 August 2026
Chartered Accountant (FP&A)

Client of Trellis Consulting

Gurgaon

CA

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details