can u tell me what is bonus stipping
2 Replies
CA Mohit kumar jain
(Searching Source of Money)
(149 Points)
Replied 14 April 2010
as per section 94
any person who transfer his shares 3 month before from bonus & again take share after bonus thats bonus stripping
Dimple
(Student)
(364 Points)
Replied 14 April 2010
Sec 94(8)
In case a person-
a) buys/acquires any units within a period of 3 months prior to record date;
b) he is alloted bonus units on the basis of holding of such units on such date; and
c) he sells or transfers all or any of the original units ref. in a) within a period of 9 months after such date, while, continuing to hold all or any of the bonus units ref. in b)
then,
a) the loss, if any, arising to him on account of purchase & sale of original units shall b ignored in computing his total income, and
b) the loss so ignored shall b deemed to b the cost of purchase or acquisition of such bonus units ref. in b) as are held by him on the date of such sale or transfer.
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