how to calculate share profit

Tarun Goyal (Querist) 18 August 2010 This query is : Resolved
R/Sir,

In the firm i am doing job my owner purchase 2448 sahre @ 100 in april 1984 & sold it in sep. 2007 @ 300/- per share then how i calculatehis profit on share.

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B.Chakrapani Warrier (Expert) 19 August 2010
Sale value is Rs.734400/-
Cost in 1984 is Rs.244800/-
Indexed cost is Rs.244800/- X 582/125 = Rs 1139789/-
Capital Gains = 734400/- minus 1139789/- = Loss Rs.405389/-
If sale transaction has suffered securities transaction tax and the share are equity shares, then gain/loss is exempted under section 10 (38) of the Income tax Act,1961.

B.R. BHALLA, ADVOCATE (Expert) 19 August 2010
Mr Chakrapani's calculations are correct and so is his advice

soumitra basu (Expert) 22 August 2010
Very good advise by Mr. Chakrapani.

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