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Anil Rego  |340 Answers  |Ask -

Financial Planner - Answered on Nov 29, 2022

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Alex Question by Alex on Nov 29, 2022Hindi
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Money

I had a joint demat account with my wife. I have opened individual demat account and transferred shares purchased by me over the years from the joint account to my individual demat account in April 2022. I sold a couple of shares in April and made profit.

Will Capital Gain Tax be applicable w.e.f. date of purchase or from date of share transfer?

I am retired now and income from pension and investments will be around Rs 2.5 lakh for financial year.

Ans: The capital gain tax will be applicable on date of purchase and not on date of transfer. If your wife has made some contribution towards purchase of the shares, you can consider it as a gift to you.

In this case also, the date is not going to be impacted.

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