05 August 2010
The cost of acquisition of bonus shares is zero and if sale of bonus shares after one year of allotment of bonus shares on stock exchange will be exempt u/s 10(38) and if sold within one year then STCG on the sale even though the original shares on which bonus is alloted was held for more than one year.
10 August 2010
agreed and continuing .. for calculating STCG, cost of acquisition will be taken nil and entire sale consideration will be STCG. however if bonus share allotted before 1-4-81, assessee may opt for market value as on 1-4-81. but it does not make any sense as in this case it will be LTCG which is exempt u/s 10(38)
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