Capital Gain
This query is : Open
22 January 2011
Assessee is having following stock in physical form:
80000 purchased in 1992 @ Rs.100
10000 shares issued as a right shares in 1997 @ Rs.300
Now asseessee want to sell 25000 shares. Can he sell 10000 shares out of right issue and 15000 out of shares purchased in 1992?
In nutshell my question is if securities are in DMAT form it is mandatory to follow FIFO method. Whether same principle applies to shares held in Physical Form or is it possible if i am having different certificate i can sell any shares at any time without following FIFO method
80000 purchased in 1992 @ Rs.100
10000 shares issued as a right shares in 1997 @ Rs.300
Now asseessee want to sell 25000 shares. Can he sell 10000 shares out of right issue and 15000 out of shares purchased in 1992?
In nutshell my question is if securities are in DMAT form it is mandatory to follow FIFO method. Whether same principle applies to shares held in Physical Form or is it possible if i am having different certificate i can sell any shares at any time without following FIFO method
22 January 2011
In case of LT gain on share , no tax is applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Inventory of finished goods
- TDR receipts for agreement holder
- Sale of property furniture sale
- GST APPLICABILITY ON POLLUTION CHECK SERVICE
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Company Incorporation - CA and directors signing from different states
- JOB WORK ITC 04
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- Point (III) 9 of GSTR-9C
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
