Indexation of cost of improvement for shares of pvt ltd. com
This query is : Resolved
Jay Mittal
(Querist)
18 June 2016
Mr. X had purchased shares of pvt. ltd. company in F.Y. 2000-01 which was partly paid up. Paid up value was Rs. 8 per share and face value was Rs. 10 per share. On 31.01.2015 the company called the last call and the call money was paid by Mr. X to the company on 31.01.2015. Now Mr. X has sold his shares to Mr. Y on 17.06.2016.
My question is whether the call money paid by Mr. X will form part of cost of improvement while calculating long term capital gain on such shares?
My question is whether the call money paid by Mr. X will form part of cost of improvement while calculating long term capital gain on such shares?
18 June 2016
No it will be still cost of acquisition. COA shall be Rs.10 and should be indexed from 2001. Cost is not based on cash basis.
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