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Vivek Lala | Answer |Ask -Follow

Tax, MF Expert - Answered on Jul 22, 2023

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more

Question by Micheal F on Jul 11, 2023Hindi

Money

Greetings, How will I be taxed for inherited shares from my mother after she passed in 2020, She had purchased these shares before 2018.

Ans: The shares will be passed on to you from your mother at the cost she purchased them.
You will be taxed at the time of sale of these shares and the cost value will be of 2018 and not of 2020

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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Hi Mihir, Are the proceeds of sale of shares gifted by my mom to me taxed? . If yes, then how much is tax i need to pay? Also these shares have been bought almost 20-25 years ago & my mom wants to sell them now

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How will I be taxed if I inherited shares from my mother after she passed in 2020, She had purchased Indusind and BOI shares long before 2018

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Hi My mom sold her shares recently for approx 10 lakhs . These shares were purchased around 2003. I need to know the taxation part as I have heard about the grandfathering rule under section 112A

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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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