Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Mihir

Mihir Tanna  |706 Answers  |Ask -

Tax Expert - Answered on Nov 02, 2023

Irfan Question by Irfan on Sep 05, 2023Translate
Listen
Money

Sir, I am MTF and e-margin facility for short to medium term positional trades in cash equity segment. My question, while calculating STCG or LTCG on equity, interest on MTF and e-margin paid by me will be considered as cost of doing business hence STCG or LTCG will be after deducting such interest amount. Thanks and Regards

Ans: No, interest is not considered as cost for calculating capital gain.
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.
Money

You may like to see similar questions and answers below

Anil

Anil Rego  |330 Answers  |Ask -

Financial Planner - Answered on Jun 09, 2022

Money
I am Super Senior VETERAN, DOR 01 SEPT 1998. I have been filing my ITR regularly.  2) I shall appreciate your help to calculate Profit/Loss on Share/M.F Txt. 3) I have redeemed Tata Infrastructure Fund Folio No. 142726 , Qty 1496 units, Amt Rs.38473/ Dt 23/11/2020. 4) My Purchase was a) 489.939 units at Rs 10000/- Dt.01/03/2007b) Units 1069.68 at Rs 30000/- @28.05 Dt.23/01/2008 5) PLZ Calculate LTCG/LOSS. Also let me know if Purchase NAV will be based on NAV 31ST JAN 2018. 6) For Share Txt of VEDANTA QTY 210 Sell & L&T QTY 5 Sell, I will give details on receipt of your comment on Tata M.F. Redemption. 
Ans: Grandfathering would be applicable for you while computing the capital gains for Tata Infrastructure Fund. The Cost of Acquisition to be considered would be the higher of:

(i) Cost of Acquisition of the asset and

(ii) Lower of:

  1. Fair market value of the asset as on January 31, 2018 and
  2. Full value of consideration received / receivable on transfer of the capital asset.

The computation for the same is tabulated below. I had assumed it is under dividend mode based on the NAVs provided:

Capital Gains Computation
Sl No Description Date Units NAV Amount
1

Sales Consideration

23-11-2020 489.939 25.717246 12,600
Purchase 1 01-03-2007 489.939 20.410704 10,000
Cost of Acquisition - on FMV 31-01-2018 489.939 32.27 15,810
As per grandfathering principle - COA   12,600
2 Sales Consideration 23-11-2020 1006.061 25.717246 25,873
Purchase 2 23-01-2008 1006.061 28.045771 28,216
Cost of Acquisition - on FMV 31-01-2018 1006.061 32.27 32,466
As per grandfathering principle - COA   28,216
  Long Term Capital Loss -2,343
(more)
Latest Questions
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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x