I had applied for an IPO of a company in Q-2 FY 2016-17 and was allotted its shares during IPO allotment process. I held the shares of the company till Jul-2021. I sold them them all in Aug-2022 and made an approximate profit of ₹ 85,600/-.
I had opted for old tax regime for FY 2021-22. My queries are:
1. Will my profit from the sell of shares be considered as LTGC?
2. Do I need to pay any LTGC tax on profit of ₹ 85,600/-?
3. Do I need to use ITR-2 to file tax return for FY 2021-22?
4. Where (on which sheet in the excel file) on ITR form do I need to disclose my profit?
CAclubindia
