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Long term investor seeks guidance on HDFC Bank and HDFC Housing Finance merger impact on cost price

Vipul

Vipul Bhavsar  |95 Answers  |Ask -

Tax Expert - Answered on Feb 17, 2025

Vipul Bhavsar is a chartered accountant from The Institute of Chartered Accountants of India. He has over 16 years of experience in corporate advisory, taxation and financial reporting.
His interest areas are consulting, income tax, GST and due diligence.
He founded his CA firm, V J Bhavsar and Associates, in 2010 through which he offers services like virtual CFO, trademark registrations, company /LLP formation, MIS reporting, audit, tax and TDS compliances, accounts receivable/payable management and payroll processing.... more
Asked by Anonymous - Feb 17, 2025Hindi
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Hello Mr.Vipul...Pl guide as to which Cost Price will be applicable on Sale of HDFC Bank shares now onwards (held since 31Jan2018) and Merger of Parent HDFC Housing Fin.Ltd.(Also held since 31Jan.2018) on July2024.Since HDFC Bank Shares were also Split in 1 into 2 in Sept.2019 i.e; before Merger & after 31Jan.2018. Will the Cost be taken as Half of 31Jan.2018 Valuation or any other...??? Your Expert advice will be Appreciated....Thanks/Regards.

Ans: Dear Sir,
The cost of acquisition of shares purchased before 31 Jan 2018 and sold there after shall be as follows

COA of such investments shall be deemed to be the higher of:

The actual COA of such investments; and
The lower of-
Fair Market Value (‘FMV’) of such investments as on 31 Jan 2018; and
the Full Value of Consideration received or accruing as a result of the transfer of the capital asset i.e. the Sale Price
Further, the FMV would be the highest price quoted on the recognised stock exchange on 31 January 2018.

Though there has been split up of shares, that does not change the COA since the COA will be distributed over all the shares of respective company and Total amount of COA shall be arrived as per the method given above.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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