Indexing for LTCG of securities

Tax queries 156 views 8 replies
  1. I have sold a number of equites in 2023, all bought during 2019.
  2. I have also sold one equity in 2023, but this one was bought in 2006.
  3. I have also sold one equity in 2023, but this one was bought in 1994.

 

  1. For Capital Gain taxation, can I process (1) above without indexation, taxable at 10% and for items (2) and (3) above, with indexation, taxable at 20%.

 

  1. Secondly, how to calculate CII for 2023 for shares purchased in 1994 and 2006, considering the fact that the CII base was changed to 100 in 2001-2002 from 100 in 1981-1982.
Replies (8)
B. cost inflation index is furnished by relevant authorities.
A. IF LTCG THEN ITS OK , OTHERWISE NOT.

Thanks for the clarifications. 

I find that in the Income Tax Utility, there is no way to fill in details of shares with indexation, for any shares acquired after 31 January 2018. If you select a date after 31 January 2018, the applicable fields for filling in the indexed purchase price is blanked out.

Many of my shares are purchased during 2019 - 2020.

Therefore how to fill details of  equities bought in 2019-2020 in the Income Tax Utility?

Appreciate your kind help.

Sir ask query one by one for every share, I will explain you the calculation. Also provide date of purchase and date of sale also.

Dear Rashmi,

Below are two typical examples:

THE SOUTH INDIAN BANK LTD.-EQ NEW F.V. RE.1/-
No. of shares                   6,618
Buy Date 2-Mar-06
Buy Price (total) ₹ 25,674
Sell Date 1-Jun-23
Sell Price (total) ₹ 117,139
   
BAJAJ CONSUMER CARE LIMITED-EQ NEW F.V. RE.1/-
No. of shares                   1,250
Buy Date 9-Oct-19
Buy Price (total) ₹ 183,811
Sell Date 22-May-23
Sell Price (total) ₹ 230,000

Thanks for the help.

Annapurna Ramanathan (Sr. Citizen)

The calculation is as per act

For shares purchased after 31 January 2018, you need not do share wise break up. Just sum up the cost and sale value. That is the data that needs to be filled in the 112A sheet. 

for the shares bought before 31 January 2018, since both of these shares are listed equity, then save yourself the effort. check the day high of the equity on 31 January 2018. Higher of the cost or the day high of 31 January 2018 is to be considered as the costfor calculating the gains. Offer the same to tax at 10%. 20% taxation with cost indexation is not available for listed shares.

The day high for South Indian Bank was 30.65 and for Bajaj it was 507.

There is no sheet called 112A SHEET .
WRONG

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