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Clarification on LTCG tax
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?.
Replies (9)
Quick Summary
I think your tax liability will be for sale of shares is @ 10% . 100000 rupees is exempt, so on remaining 400000 rupees @ 10%
Thanks for your reply.
When so I need to pay tax?
Can I pay tax on 31st July 2021?
When so I need to pay tax?
Can I pay tax on 31st July 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.
Cost will be at market price as on 31-01-2018 or actual 120000/- whichever is more.
Yes, on 31.7.21 for individual returns
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
In my point of view please consult FCA with all deatails including other income. There are some exempted and deduction matter.
Please let me know as how to account bonus shares received prior to 31 01 2018
FMV as on 31.01.2018 to be taken as cost of acquisition.
Yes, consult with CA rather than asking here, as it's a matter related to capital gain
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