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Securities transfer

169 views 5 replies

Rakesh Raki

48 Points Joined July 2019

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

Replies (5)

CA Puja Sharma

Chartered Accountant

5010 Points Joined March 2020

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.

Rakesh Raki

48 Points Joined July 2019

But we don't know the exact buy value..
it was happened 10 yrs back..

Eswar Reddy S

CFO- at NHTF

58280 Points Joined August 2012

If it is listed company then you may the prices from stock exchange website

sabyasachi mukherjee

28118 Points Joined May 2017

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?

Eswar Reddy S

CFO- at NHTF

58280 Points Joined August 2012

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