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long term Capital Gain on Unlisted shares

Tax queries 29380 views 16 replies

In case of Long term capital on listed shares without being subject to STT, with indexation and without indexation simply means inflating the purchase cost in the following way:

 

Cost of purchase x CII in the year of sale / CII in the year of purchase

 

On the above apply 10 % for capital gains without indexation and 20% for capital gains with indexation. Take whichever is beneficial to the assessee.

HUF buy 50000 unquoted share of Rs. 62500/- @ 1.25/- per share as on 20.11.2003 and nominal value per share of this company is Rs. 10/- per share and total issued capital of the company 500000 share @ 10/- per share Rs. 5000000/-as on 31.03.2016 company profit 200000/-

And now HUF sale the share as on 21.05.2016 @ 10/- per share of Rs. 500000/-.

Kindly tell me the Calculation of Capital Gain, and TAX calculation of HUF. 

 


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