Ltcg tax - is it applicable in case of loss?

Ram K (NA) (216 Points)

21 January 2019  

Dear Sir/Madam,

For sake of simplicity consider that I have inherited some shares from my mother, transferred to my name. So I have never spent any money in purchasing them. They were purchased way back in 1998 for example by my mother.

Their value as of 31-Jan-2018 is RS 20000 however I sell them today at the prevailing market rate and it fetches only 18000.

Keeping other expenses like brokerage etc aside there's a loss of 2000 Rs

Now is there any LTCG tax applicable in such a scenario, when the value is lower than what it was on 31-Jan-2018?

Thanks and regards,