Ltcg tax when losses

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216 Points Posted on 22 January 2019

Dear Sir/Madam,

If I sell  shares (that I have been holding for a long time)  that I have now, but the current price of the share is less than what it was on 31-Jan-2018, then with that price there's a loss incurred.

Do I need to pay any tax on the amount received after selling shares?

Thanks & Regards.

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On 22 January 2019 at 14:04 Report
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Article Student
357 Points Posted on 22 January 2019
To compute the gain or loss you incurred, you have to compare your selling price with the amount at which you purchased those shares! if you incur loss , then you don't have to pay any tax as the tax is required to be paid on the gain you have got!
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On 22 January 2019 at 14:17
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216 Points Posted on 22 January 2019

Dear Sir/Madam,

I understood (some internet article it seems) that you compare it against the price of the share as on 31-Jan-2018 keeping in mind the indexed value.

Thanks and regards

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On 22 January 2019 at 14:34
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Article Student
357 Points Posted on 22 January 2019
Dear sir,

thanks for informing about this update ! & yes , You are correct at this stage ! With the update , you have to compute the LTCG by following process :


LTCG= Sale price - Cost of acquisition


now , Cost of acquisition will be Higher of
1. The actual cost of acquisition
or
2. the lower of,
a.Fair marker value on 31.1.2018
b.Sell price

Thanks again & Regards!
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On 22 January 2019 at 15:26
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Article Student
357 Points Posted on 22 January 2019

But I think that's only a proposal! And it's not come into effect yet! So first of all confirm it!

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On 22 January 2019 at 15:51

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