Capital Gain Tax Calculation for Share sale
This query is : Resolved
Proloy Samaradivakera
(Querist)
03 October 2023
2000 Shares of ABC Company bought in Aug-2017 for Rs 88 per share, was split/ subdivided in Dec-2019, 10 times and it became 20000 shares. Today the share price is Rs 32 per share. If I sell 1000 shares now how will I calculate the gain - what share rate will I take for Cost of Acquisiton (CoA). Can I follow FIFO and take the CoA as 1000x88 = 88000 and Sale Value being 1000x32 = 32000 and proceed? And continue to follow FIFO for future sale. The 1st 2000 shares will have a rate of Rs 88/share for CoA and beyond that the CoA will be zero.
CA R SEETHARAMAN
(Expert)
03 October 2023
No, you calculation is not the right way.
The cost of each share after conversion will be 8.80 per share.
The cost of each share after conversion will be 8.80 per share.
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