NRI sale of shares

ITR 224 views 5 replies

Anonymous

Mr.

119 Points Joined November 2010

If NRI sells 30 shares acquired through inheritance in 2006 and 10 shares were originally purchased by deceased resident parent prior to November 1981 whose original purchase price is unknown and the rest 20 shares were bonus shares given to the diseased parent, how can the Long Term Capital Gain (LTCG) Schedule 112A columns be filled? Full Sale Consideration is less than Rs. 1 lakh, hence LTCG will also be less than 1 lakh.

Replies (5)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208750 Points Joined July 2016

For all the 30 shares you can take FMV as of 31.01.2018, as cost of acquisition.

Anonymous

Mr.

119 Points Joined November 2010

What is the best way to find out the FMV of the shares on 31 Jan 2018? Thank you.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208750 Points Joined July 2016

follow the links ..... https://maxutils.com/income/ltcg-bse31jan

&/ or https://www.bemoneyaware.com/blog/bse-stock-price-31-jan-2018-ltcg-shares/

for MF ... https://scripbox.com/mutual-fund/isin-fair-market-values

Anonymous

Mr.

119 Points Joined November 2010

Thank you very much for the useful links. However, the stock is India Carbon Limited which is only listed on the Calcutta Stock Exchange and does not appear in any of these 3 links. Are there any alternates for this? An internet search did not give me any results.

Anonymous

Mr.

119 Points Joined November 2010

I found out that India Carbon is listed on Calcutta Stock Exchange where no trading has taken place since 2013. So in effect will these be treated as unlisted shares as they are not listed elsewhere? How does one find the FMV of 31 Jan 2018 for unlisted stocks?