Delisted shares deleted from Demat Account

ITR 618 views 17 replies

I used to hold delisted shares of Essar Steel shares in my demat account. I used to report such shares on ITR2 under delisted / unlisted table.

After Essar Steel was acquired by some other company in Dec 2019, the company cancelled the shares of general public and others. As a a result, the shares do not appear in my demat account. Without any gains, the holding is gone.

How to report this matter under delisted table in this year's ITR2?

Opening Balance:

Qty Held =

Cost of Acquisition = 

Closing Balance:

Qty Held =

Cost of Acquisition = 

What do we write?

Replies (17)
Can you share transaction details for the delisted shares

Opening Balance:

Qty Held = 200

Cost of Acquisition = 10000

Now all of a sudden some agency comes and deletes the 200 shares from demat.

This is a total loss of unlisted / delisted holding. 

1) How to report it on ITR2?

2) How to claim long term capital loss of Rs 10,000?

 

Transaction details as per depository cdsl or nsdl website screenshot
Originally posted by : Samantha J
Transaction details as per depository cdsl or nsdl website screenshot

Why is that required when the question is so well detailed out?

Once shares are credited in demat no one can delete them, neither company,nor broker and neither cdsl!
Originally posted by : Samantha J
Once shares are credited in demat no one can delete them, neither company,nor broker and neither cdsl!

Shares can be deleted from the demat account of shareholder, without the knowledge or intimation to the shareholder.

Here are the details:

https://www.ndtv.com/business/essar-steel-announces-cancellation-of-shareholder-holdings-2157834

Now question arises, how do we report on ITR2, unlisted shares.

And how do we book loss?

Many times the shareholder may not be kept in the loop for debiting his shares:

More to read here:

https://shikshanews.com/kochi-man-finds-out-shares-bought-43-years-ago-now-worth-rs-1448-crores-company-denies-claims/

Since the debit is on account of court order you cannot claim loss as they have been extinguished not transferred to result in loss.
Originally posted by : Samantha J
Since the debit is on account of court order you cannot claim loss as they have been extinguished not transferred to result in loss.

Okay. that clears the LTCL part.

Now how do we report such "court order deleted shares" in the Unlisted Section of ITR?

Opening Balance? 200 Qty, Rs 10000

Closing Balance? 0 Qty, Rs 0

Something needs to be told to the IT department. 

One should be careful as "Beware of fraud " risk is not over yet!
Originally posted by : Samantha J
One should be careful as "Beware of fraud " risk is not over yet!

Fine, because we still do not have an answer to the original question here.

Originally posted by : Samantha J
Transaction details as per depository cdsl or nsdl website screenshot

Such request is unwarranted.

Can we come to resolution without knowing the facts, the transaction details.Guess you might be able to.
Originally posted by : Samantha J
Can we come to resolution without knowing the facts, the transaction details. Guess you might be able to.

This is not what has been asked in the original post. The details are very well posted with the circumstances and one has to only reply on how the reporting of such transaction shall happen on Unlisted section of ITR.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register