Off Market Credit

1. Original cost.

2. No need to declare it in ITR, unless in schedule AL.      Again at Cost Price.

If I understand correctly, consequent to your mother's passing, you only received the shares in an off market transaction as an inheritance. If you haven't subsequently sold them why are you showing this as exempted income? Or have you sold them subsequently?

The Income Tax Act, 1961, specifically excludes the transfer of assets under will or inheritance from the purview of gift tax. Accordingly, the law does not provide for taxation of property received by way of inheritance.

Sir, I have sold few of the shares, that I would show it as sold in my capital gains part. As far I understand I don’t need to show in the exempted income. Thanks