Incase of sale of listed equity shares after 1-4-18 what value of cost price do we take in case of loss.
Ex- cost of shares purcgased say 10 years ago is 100/- per share.Fair market value as on 31/1/18 is Rs 5/- and sold at rs 4 on 5th may 2018.
Shld we consider cost of purchase as Rs 100 and get a long terms capital loss of Rs 96 or otherwise?
"Should we consider cost of purchase as Rs 100 and get a long terms capital loss of Rs 96.."
Yes, Correct .....
Hi,
In Case U have been recoding stock at CMP, then loss will be calculate (5-4)*NO. of shares as the rest of the losses you have recorded earlier while recording the shares at CMP.
OR else if the above is not followed , then ypu have to calculate loss (100-4) i.e Rs 96*NO.of shares.
Regards
CA Swati Agarwal
Hi,
In Case U have been recoding stock at CMP, then loss will be calculate (5-4)*NO. of shares as the rest of the losses you have recorded earlier while recording the shares at CMP.
OR else if the above is not followed , then ypu have to calculate loss (100-4) i.e Rs 96*NO.of shares.
Regards
CA Swati Agarwal
Thks for your reply but I did not understand "recording share at CMP".Can you pls explain.
CMP is current Market Price
CAclubindia
