Anil Rego |377 Answers |Ask -Follow
Financial Planner - Answered on May 31, 2021
I need clarification regarding calculation of long term capital gains, as long term capital gains tax was not in existence before 31st Jan, 2018.
(i) Should I take the NAV as on 31st Jan, 2018 as the cost price for calculation (as then FM declared during budget speech), or
(ii) the NAV price at the time of purchase?
First option is beneficial to me. Please advice.
As per the 2018-19 budget, since there was no tax payable on long term capital gains earlier, it allowed for grandfathering. ie. The gains only after a cutoff date of 31st January 2018 will be considered. Thus, you need to take the NAV as on 31st Jan, 2018 as the cost of purchase.
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