18 February 2022
I inherited shares from my father after his demise in Sept. 2019. My father had bought those shares before 31-1-2018. The shares were transferred (by off-market transfer) to my demat a/c in March 2020.
As this was transfer without payment of consideration, the cost of acquisition for me would be my father's purchase price.
My query : I sold some of the shares last month. As those shares were purchased by my father before 31-1-2018, can I apply FMV (as per grandfathering clause) while calculating my LTCG?
CAclubindia
