Hi Pankaj, I have been accumulating equity shares of few companies since 1.5 years. I am a NRI and have a NRI-PIS account. I have never done buy/sell on same day as this is not allowed for NRI-PIS. I have a few queries related to sale of these shares
Thanks and appreciate your response. God Bless. asked Sep 18 '12 at 15:59 by NRIPIO 16●1●2●6 |
Short term gains would be taxable @ 15%, Long term gains (sale after a year) would be tax free. answered Sep 18 '12 at 16:24 by Pankaj Batra 5.2k●3●20 one more clarity please, in case of BHEL, there was a stock split... so eg. if I bought 20 in Mar 2011 at 1900 and sold 20 in Sep 2012 for 225. Since there was a FV revision from 10 to 2 and there was a stock split what would be my purchase price to arrive at the relevant profit/loss at the time of sale in Sep 2012
(Sep 24 '12 at 16:23)
NRIPIO
Your can assume purchase cost proportionally. So you can assume purchase cost as 1900/5 for 100 shares.
(Sep 24 '12 at 16:27)
Pankaj Batra
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Pankaj has guided you in the right direction I would just like to add that STT Paid shall not be deducted while computing Cap Gain as the Law has specifically excluded the same. This is a error which many taxpayers make. However, as per Fifth Proviso to Section 48, STT paid is not allowed to be deducted answered Sep 20 '12 at 20:10 by CA Karan Batra 532●1●6 |