Hi
My father was purchased some securities 10 yrs back in physical form..
In 2018 april he transfer whole securities to my demate account as a gift nature..
Now i sold these securities in FY 20-21 through my demate account..
some questions regarding this.
1) How will this shown in my income tax return
2) I don't know exact buy date ..
3) whether can i take 2018 year buy value to compare my sale value to get profit/loss.
please guide me.
Thank you
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Securities transfer
Replies (5)
Quick Summary
In the case of a gift, the holding period in your hand will be counted from the date of the actual purchase of the securities.
Price actually paid at the time of purchase will be your cost of purchase.
But we don't know the exact buy value..
it was happened 10 yrs back..
it was happened 10 yrs back..
If it is listed company then you may the prices from stock exchange website
1)In your income tax return its a long term capital gain. Calculate indexed cost of accquistion.What is the sale value?post actusl values. File itr 1/2.
2) there are seperate rules for ascertaining asset purchased 10 years back.
3)actual date?
2) there are seperate rules for ascertaining asset purchased 10 years back.
3)actual date?
Cost to the previous owner and period of holding till sale has to be considered.
Since buying price is not available , get FMV on the date of purchase either through stock exchanges or from company
Since buying price is not available , get FMV on the date of purchase either through stock exchanges or from company
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