Hello everybody,
I’m comparatively new to the inventory market and will use some steering on a discrepancy situation I’ve encountered with my dematerialized share of Saurashtra Cement Restricted holdings.
Right here’s the scenario:
I’ve holdings in Saurashtra Cement Restricted, with the allotment date being eleventh November 1993.
My bodily certificates was efficiently dematerialized and added to my portfolio within the first week of July.
I’ve seen a crimson exclamation mark subsequent to this inventory in my holdings, indicating that “There could also be a discrepancy with this inventory.”
After contacting Zerodha assist, they talked about that on this case, I might want to manually add the worth at which I acquired the shares. Additionally they stated that if I don’t have the main points and bought the shares earlier than 31-01-2018, I have to enter the excessive/closing worth as of 31-01-2018, because the grandfather clause might be relevant.
I did buy the inventory earlier than 31-01-2018. Primarily based on the knowledge from tijorifinance.com (screenshot of the webpage hooked up), the excessive/closing worth as of 31-01-2018 is 91.50. I perceive that I have to enter this worth.
May anybody please affirm if my understanding is right? Any further recommendation or steps I ought to take could be drastically appreciated.
Thanks prematurely on your assist!
Sure. It’ll be that worth or your precise buy worth per share from 1993, whichever is greater. It’s referred to as grandfathering clause, since authorities launched tax on long run capital positive aspects.
cleartax
Part 112A of Earnings Tax Act – Lengthy Time period Capital Positive factors on Shares
Lengthy Time period Capital Achieve on fairness shares was exempted u/s 10 (38) until 2017-18. Nevertheless, the above exemption inspired the diversion of funds from essential sectors like manufacturing, infrastructure and so on., into capital markets.
That might be your purchase worth (“value of acquisition”) for that inventory. It is going to be used for calculating earnings on which you’ll pay tax when you promote the inventory
