Capital gain on shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 hi,

my mom had gifted me shares of a blue chip co which got delisted from exchange. i recd a good amt of consideration . my query is regarding the computation of capital gain and also who is liable to pay tax if taxable. pls note that holding of this shares prior gift were for 3 yrs

srinath

srinath (Expert)
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21 August 2012 when the shares gets delisted then it would be taxable as Long term capital gain since the holding period was more than 3 years

54(2)(vii) does not attract since the transaction is between two relatives