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Clarification on LTCG tax

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Sr Executive
28 Points Posted on 04 April 2021
I have purchased share worth Rs 120000/- on 2008 and I have sold the same in 2021 on 27th March March at Rs 500000/-. I have received money on my account on 31st March 2021. I have not paid any advance tax yet. Please help me with how much tax I need to pay and by when?.
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On 04 April 2021 at 00:20 Report
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Chartered Accountant
24588 Points Posted on 04 April 2021
I think your tax liability will be for sale of shares is @ 10% . 100000 rupees is exempt, so on remaining 400000 rupees @ 10%
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On 04 April 2021 at 06:25
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Sr Executive
28 Points Posted on 04 April 2021
Thanks for your reply.
When so I need to pay tax?
Can I pay tax on 31st July 2021?
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On 04 April 2021 at 09:14
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17264 Points Posted on 04 April 2021
Tax liability @ 10% after first 1 lakh exemption.
Cost will be at market price as on 31-01-2018 or actual 120000/- whichever is more.
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On 04 April 2021 at 10:11
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Chartered Accountant
24588 Points Posted on 04 April 2021
Yes, on 31.7.21 for individual returns
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On 04 April 2021 at 12:29
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Chartered Accountant
86505 Points Posted on 04 April 2021

Consult with some CA with all details as with such a little information, it is not possible to calculate your CG. in my view , no liability occur as value as on 31.01.2018 will be considered while calculating capital gain 

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On 04 April 2021 at 19:02
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22 Points Posted on 05 April 2021
In my point of view please consult FCA with all deatails including other income. There are some exempted and deduction matter.
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On 05 April 2021 at 15:38
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4 Points Posted on 05 April 2021
Please let me know as how to account bonus shares received prior to 31 01 2018
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On 05 April 2021 at 21:23
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Chartered Accountant
86505 Points Posted on 06 April 2021

FMV as on 31.01.2018 to be taken as cost of acquisition. 

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On 06 April 2021 at 11:36
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2742 Points Posted on 11 April 2021
Yes, consult with CA rather than asking here, as it's a matter related to capital gain
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On 11 April 2021 at 20:20


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