TAXABILITY U/S 112A

I don't see a problem with considering FMV on 31/1/18 as Cost Of Acq (COA) , as you would be forgoing the benefit of considering a higher COA based on actual, thereby your gain could be higher. However, you cannot take FMV as COA if the Full Value of Consideration (FVOC) is higher than such FMV. In such a case, FVOC shall be the COA and no capital gain/loss incurred.

As for the second question, for listed share, FMV is the highest quote on 31/1/18 whereas for unlisted shares you need to take the indexed cost of acquisition.

Thanks for valaable information @ Ansari Salman.

STT is not paid on such shares then whether 112A will be applicable on them ?

I ll be highly obliged if you provide me information that from where I can get highest quoted price of any share.

For STT, there are further two scenarios:

1) If the security was acquired before 1/4/2004, 112A will be applicable as STT was enacted afterwards.
2) If the security was acquired afterwards and STT is not paid because shares were not traded through Stock Exchange, then 112A will not be applicable.

For Highest quoted price, the quotations as on 31/1/2018 are attached herewith (downloaded from https://www.bseindia.com/markets/equity/EQReports/bhavcopy31012018.aspx). Find your share in column B and the corresponding High Quote (Column F) would be applicable for us.

Thank you so much sir.