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

Vipul

Vipul Bhavsar  |36 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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Your JEE Main percentile (Convert your percentile into All India Rank with the help of a formula available in Google).
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
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Step 1: Collect Your Son's Key Details
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Your JEE Main percentile (Convert your son's percentile into All India Rank with the help of a formula available in Google).
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Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
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Select NIT, IIIT, or GFTI, depending on your preference.
If your son is open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Son's Preferred Academic Program (Branch)
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Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch your son is interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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