Calculation of Long Term Tax - when the purchase price cannot be proven


I had purchase 300 shares of Albright Morarji and Pandit ltd in 1992-93. Additional 70 shares were allocated as rights in 1994-95. None of the receipts are available now, so I cannot prove the purchase price.

Compact bought back 370 shares (Rhodia Speciality - new name has now gone private). The shares were sold @1200/share.

How to compute Long Term Tax now.

asked Nov 27 '14 at 13:01 by Jitendar Kumar 11

If you don't have purchase receipts, you can use fair market price at that time.

If you have paid STT on purchase/sale, then there won't be any tax payable as gains from equities would be tax free.

Else, gains would be taxed at 20% with indexation benefit.

answered Nov 28 '14 at 12:24 by Pankaj Batra 5.2k320


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Asked: Nov 27 '14 at 13:01

Seen: 1,222 times

Last updated: Nov 28 '14 at 12:24