Rani (None) (277 Points)
17 September 2021Hello,
I had a few shares of Arvind Ltd bought before 2018 Jan 31st. After demerger got a few shares of Anup Engineering and Arvind Fashions Ltd. Iam planning to sell them, but could not find FMV of these stocks on Jan 31,2018. In such cases how is LTCG calculated?
Thanks in advance
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 September 2021
LTCG ARISES ONLY WHEN SHARES ARE SOLD.
J S BHAVSAR
(CONSULTING)
(1288 Points)
Replied 21 September 2021
Not necessarily. LTCG and LTCL may arise on unlisted and delisted stocks without the sell transaction.
Many companies automatically cancel the shares and delete them from your demat account without your knowledge or without your consent.
https://www.ndtv.com/business/essar-steel-announces-cancellation-of-shareholder-holdings-2157834#:~:text=In%20an%20e%2Dmail%20statement,India%20Company%20Secretary%20Pankaj%20S.&text=Consequently%2C%20the%20entire%20existing%20issued,2019%2C%20the%20company%20secretary%20said.
Such transactions can also cause LTCL
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 21 September 2021
That is equal to maturity right, that is why taxes are applicable
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 21 September 2021
it is also settlement, When the investment does not produce any further benefits, it’s called disposal or settlement and taxes applicable on them
CAclubindia
