Income declaration scheme for shares?

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Hi,  

I had invested in shares around 16 years back but did not show it as an investment in my balance sheet since then. I had paid cash for these shares and do not have any proof of purchase. These share s are in my demat account.

I would like to know the following things-

1a. Should I show this in the IDS scheme?

1.If i sell these shares will there be any tax implication on this?

2. How can I bring this in my books?

3.won't this be called as a long term gain if I sell it now?

Thanks in advance.

Read more at: /forum/details.asp?mod_id=353023&offset=0

Replies (1)

Yes I agreed with the comments provided by raj in earlier forum.

 

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