banner_ad

Ltcg tax - is it applicable in case of loss?

Tax queries 177 views 2 replies

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,

Replies (2)
Now is there any LTCG tax applicable in such a scenario, when the value is lower than what it was on 31-Jan-2018?
NO.

Earlier Long term capital gain on sale of equity shares was exempt under section 10(38). Finance act 2018 has withdrawn this section and new section 1112A introduced effective from fy 2018-19.  Now  LTCG exceeding Rs. 1 lac will be taxed @ 10%. from FY 2018-19 onwards subject to other conditions.

CA umesh kumar- 9717597230

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details