LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Kris Chari (XX)     22 April 2018

Ltcg stocks

I am 87 years of Age.

I had invested on stocks in joint name with my friend in 1985 when the issue price was Rs 10/= (100 stocks).(50 % share each)

Current price is Rs 22000 per stock in BSE and on Jan 31st it was 21333.00

My friend is now US citizen and NRI

If i sell the stock what will be the tax implication in the light of  Finace Act 2018?

Thanks

 



Learning

 2 Replies

R.Ramachandran (Advocate)     22 April 2018

Only if the capital gain is more than Rs. 1 lakh, one has to pay 10% tax on the capital gain exceeding Rs. 1 lakh.  In your case, as per the given details, the capital gain will be less than Rs. 1 lakh and as such there will be no tax implication.

Kumar Doab (FIN)     22 April 2018

You may also post at group website of LCI;

CAClubindia

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register