Long term capital gain u/s 112a
This query is : Resolved
23 August 2019
DEAR SIR,
ONE OF MY CLIENT PURCHASED 500 SHARES ON 1995 FACE VALUE OF THE PER SHARES 10/-. HE SOLD THE SHARES IN FINANCIAL YEAR 2018-19 WORTH OF RS 216000/- AND 206781/- RS 196065/- AND 210724/- AND 211451/- TOTAL VALUE OF SALE CONSIDERATION IS RS. 10,41021/-.
NOW MY QUESTION IS LTCG IS NOW TAXABLE @ 10%. WE CAN DEDUCT THE FMV AMOUNT AS ON 31/01/2018, U/S 55(2)AC, REMAINING AMOUNT WILL TAXABLE UNDER U/S 112A.
PURCHASE FACE VALUE OF PER SHARE AS ON YEAR 1995 IS RS 10/- SALE VALUE IS RS 2160/- IF FAIR MARKET VALUE OF THE SHARE AS ON 31/01/2018 IS RS. 1900/- DIFFERENCE AMOUNT RS. 260/- TAXABLE UNDER SECTION 112A.
PLEASE CLARIFY ME
REGARDS AND THANKS IN ADVANCE WAITING FOR YOUR REPLIES SIR
ONE OF MY CLIENT PURCHASED 500 SHARES ON 1995 FACE VALUE OF THE PER SHARES 10/-. HE SOLD THE SHARES IN FINANCIAL YEAR 2018-19 WORTH OF RS 216000/- AND 206781/- RS 196065/- AND 210724/- AND 211451/- TOTAL VALUE OF SALE CONSIDERATION IS RS. 10,41021/-.
NOW MY QUESTION IS LTCG IS NOW TAXABLE @ 10%. WE CAN DEDUCT THE FMV AMOUNT AS ON 31/01/2018, U/S 55(2)AC, REMAINING AMOUNT WILL TAXABLE UNDER U/S 112A.
PURCHASE FACE VALUE OF PER SHARE AS ON YEAR 1995 IS RS 10/- SALE VALUE IS RS 2160/- IF FAIR MARKET VALUE OF THE SHARE AS ON 31/01/2018 IS RS. 1900/- DIFFERENCE AMOUNT RS. 260/- TAXABLE UNDER SECTION 112A.
PLEASE CLARIFY ME
REGARDS AND THANKS IN ADVANCE WAITING FOR YOUR REPLIES SIR
Message likes :
1 times
26 August 2019
THANK YOU SIR,
BUT TOTAL LTCG IS 10,41021/- BECOME NON TAXABLE BECAUSE HE IS SENIOUR CITIZEN, I CAN FOLLOW THE SAME FORMULA TO ALL CAPITAL GAIN EARNED IN DIFFERENT DATES.
REGARDS
BUT TOTAL LTCG IS 10,41021/- BECOME NON TAXABLE BECAUSE HE IS SENIOUR CITIZEN, I CAN FOLLOW THE SAME FORMULA TO ALL CAPITAL GAIN EARNED IN DIFFERENT DATES.
REGARDS
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
