Hi Experts,
I have a query related to Long Term Capital Gains on Sale of Equity Shares which is as follows : -
I have some Equity Shares of Unlisted Private Company which were purchased over a period from 2009 to 2016. Subsequetly this unlisted company got listed on Stock Exchange in January 2022. What will be the Cost of Acquisition in such a case considering Shares as Long Term Purchase : -
1. Cost of Purchase from 2009 to 2016 adjusted by Cost Inflation Index of 2017-18 (When Income Tax Law was changed to bring LTCG on Equity Shares into Tax Preview).
2. Cost of Purchase from 2009 to 2016 adjusted by Cost Inflation Index of 2021-22 (When Company became Listed from Unslisted Company)
3. Fair Market Value in January 2022 when company became listed.
4. Fair Market Value in January 2018 when Income Tax Law was stated in Point Number 1 was changed as above.
With Regards,
Manik
CAclubindia
