An individual is having business income and capital gains (short-term and long-term) from the sale of shares, and the investment in listed shares in a broking firm was transferred to another broking firm though shares were not sold, long term capital gain was worked out in the new broking firms statement of account. Since there has been no sale of shares but only change of broking firm, whether long term capital gains is applicable?
Menu
Income tax and shares
Replies (2)
Whether the shares were transacted through exchange by earlier broking form?
Whether any stamp-duty & brokerage was levied by earlier BF?
Whether the constitute of both the demat account were same?
Since there was no sale of shares but ownership changed. SO IT AMOUNTS TO TRANSFER. SIINCE COST NOT GIVEN IT IS TRANSFER.
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
