banner_ad

Selling shares received as transfer & tax liability

Tax queries 388 views 1 replies

Respected Sir/Madam,

My father transferred some of his shares of a few companies on my name. I  have a demat account as a primary holder and I hold shares of a few companies in my account. I have been holding those shares for more than 3 years now.

Say for example the valuation of those shares is currently 3 Lacs. Now if I sell those shares, I get say  around 3 lacs (excluding say brokerage etc).

What I need to understand is..

1.      Is the amount of 3 Lacs taxable under capital gains?

2.      If yes, what should be considered as the purchase price of those shares? I never spent any money from my pocket in purchase and now it’s not possible for me to even know the purchase price of those shares.

Thanks and regards,

Rajesh

Replies (1)

1. Not full amount, but only LTCG...... which might be nil in your case.

2. Here Cost of aquisition is the price at which your father might have purchased the share, but because of GrandFathering, you can take the value as on 31.01.2018.

3. If the sale price is more than the GF price you gain, but if less no loss to be counted.

4. Upto 1 lakh LTCG is tax-exempt, your liability for tax (at 10% of gain) arises only over that 1 lakh.......... So, Enjoy....


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details