Tax treatment of Cairns Preferential Shares
This query is : Resolved
16 August 2017
I got 4000 Preferential shares of cairn India which is now merged with Vedanta. i got allotment few days bak. if I sell them now do I need to pay short term capital gain or this sell is exempted ? Please advise
16 August 2017
What is the date of allotment of Pref. shares of Cain originally allotted, what is the date of conversion and what is date of sale ?
16 August 2017
Preferential share allotted on 10 August 2017.
Sale is not yet done since these are allotted just a week back. but those are allotted on account of cairn merging with Vedanta. Original shares(1000 nos were bought in 2012) and post merger I got 1000 shares of Vedanta and 4000 preferential shares with 7.5%interest getting matured in Oct 2018.
17 August 2017
In your case share profit shall be taxable on the date of sale/maturity
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