capital gains tax

Tax queries 746 views 2 replies

JOSEPH DAVID

GM FINANCE

286 Points Posted on 28 February 2009

X Ltd has purchased 1000 shares of A Ltd in the year 1994-95-Due to Amalgamation of ALtd with B Ltd in the year 2003-04-X Ltd has got 250 shares of B Ltd in place of 1000 shares of A Ltd.

In the year 2004-05 X Ltd has sold shares of B Ltd-

1.What is the cost of acquisition of B Ltd Shares

2.Whether indexation is possible

3.To calculate Long term/short term we have to consider the original date of purchase of A shares or Exchange of B shares

regards

Joseph david

Replies (2)

CA CS VINAYAK PATIL

CHARTERED ACCOUNTANT

921 Points Posted on 28 February 2009

Originally posted by :JOSEPH DAVID
"	X Ltd has purchased 1000 shares of A Ltd in the year 1994-95-Due to Amalgamation of ALtd with B Ltd in the year 2003-04-X Ltd has got 250 shares of B Ltd in place of 1000 shares of A Ltd. In the year 2004-05 X Ltd has sold shares of B Ltd- 1.What is the cost of acquisition of B Ltd Shares 2.Whether indexation is possible 3.To calculate Long term/short term we have to consider the original date of purchase of A shares or Exchange of B shares regards Joseph david	"

Cost of acquisition of B Ltd Shares = Purchase amount of A ltd Shares amount

Indexation is possible = yes

Long Term/Shor Term = Original date of purchase of A shares

ABHINAV JAIN-nvr allows urself to b ADVISED

CA Article

54 Points Posted on 03 March 2009

Originally posted by :JOSEPH DAVID
"	X Ltd has purchased 1000 shares of A Ltd in the year 1994-95-Due to Amalgamation of ALtd with B Ltd in the year 2003-04-X Ltd has got 250 shares of B Ltd in place of 1000 shares of A Ltd. In the year 2004-05 X Ltd has sold shares of B Ltd- 1.What is the cost of acquisition of B Ltd Shares 2.Whether indexation is possible 3.To calculate Long term/short term we have to consider the original date of purchase of A shares or Exchange of B shares regards Joseph david	"