deep1976 (propreitor) (266 Points)
09 January 2019sir
pls guide me how will i pass entries for grandfathering ltcg loss in books of accounts if ihave account in icicidirect.
i have some shares more than one year holding i am in profit but when i grandfather it its a loss,pls explain how to compute in itr and accounts,
i think that ltcg loss cannot be forwarded but confusion is there...
regards
deepak
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 09 January 2019
LTCG is not subject to grandfathering.
Sale value - original purchase value and brokerage, STT = LTCG taxed at 10% + 4% cess if gain is more than 1lac.
deep1976
(propreitor)
(266 Points)
Replied 10 January 2019
ok
if i have share purchase price 830 more than one year sell price is 930 but on the jan 31 grander father is 1180 of that share ,how will i compute,is it a loss or profit,,,,pls explain
thanx
deep1976
(propreitor)
(266 Points)
Replied 10 January 2019
https://www.businesstoday.in/markets/stocks/grandfathering-of-ltcg-from-equities-long-term-capital-gains-tax/story/272806.H T M L
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