An assessee has invested Rs. 1,00,000/- in shares of private limited company in 1993 and in 2010 he has sold the shares to another shareholder for Rs. 1,00,000/-. It is not subject to Securities Transaction Tax.
What is the capital gain or loss in this case? And whether indexation benefit can be availed?
Long term capital Loss
Sale Consideration =1,00,000/-
Less: COA (Indexation) =1,00,000*711 / 244 = 2,91,393/-
Long term Capital Loss = Rs.1,91,393/-
Assuming that the
Purchase was between April 1993 and march 1994 and Sale after 31st march, 2010 -
Income from Capital Gains
Long Term
Sale Consideration =1,00,000/-
Less:indexed Cost of Acquisition =1,00,000*711 / 244 = 2,91,393/-
Long term Capital Loss = Rs.1,91,393/-
i am not understanding , how the person sale shares without following cci guidelines ?
HOW the person sale shares at face value & claim capital loss ?
| Originally posted by : himanshu | ||
 |
Long term capital Loss Sale Consideration =1,00,000/- Less: COA (Indexation) =1,00,000*711 / 244 = 2,91,393/- Long term Capital Loss = Rs.1,91,393/- |
 |
Agree...
| Originally posted by : valji | ||
|
|
i am not understanding , how the person sale shares without following cci guidelines ? HOW the person sale shares at face value & claim capital loss ? |
|
| Originally posted by : himanshu | ||
|
|
Agree |
|
| Originally posted by : himanshu | ||
|
|
Long term capital Loss Sale Consideration =1,00,000/- Less: COA (Indexation) =1,00,000*711 / 244 = 2,91,393/- Long term Capital Loss = Rs.1,91,393/- |
|
CAclubindia
