Sangeetamam ,
LTCG in Equity and equity related products are taxfree
All other LTCG`s are taxable with rates something like 20.3% without indexation and 10.3% or thereabouts with indexation
Mine is limited knowledge
You must be a practitioner in accounts and therefore have detailed knowledge
--- In sharetrading@
>
> regarding capital gains , the rule is in case of long term all the gains r exempt from tax thus loss is also not taxable. but in the case of short term losses, the loss is allowed to be carried forward and adjusted from the st capital gains only  upto 8 years from the financial year in which u have suffered loss. the only condition is that u have to file the tax return within the due date.
> any other querry reg tax , u can refer to me ,i can b of some help in this regard.
> regards,sangeeta.
>
> --- On Thu, 11/2/10, sharetrading.
>
>
> From: sharetrading.
> Subject: [sharetrading] Re: short term capital gains/loss
> To: sharetrading@
> Date: Thursday, 11 February, 2010, 11:42 AM
>
>
> Â
>
>
>
> Mr. Naik
> Short term capital loss can be adjusted only against short term capital gain
> Therefore both the things have to be in the same financial year
> We cannot carry forward short term losses or gains
> SM
>
> --- In sharetrading@ yahoogroups. com, "Naique" <naique@> wrote:
> >
> > Dear Shravan
> >
> > Thanks for the calculations
> >
> > Can short term capital loss of Rs 5134 in the FY 2008-2009 be carried forward to 2009-10 or beyond that?
> >
> > regards
> >
> > Pradeep
> >
> >
> > From: Shravan Keyal
> > Sent: Tuesday, February 09, 2010 11:35 AM
> > To: sharetrading@ yahoogroups. com
> > Subject: Re: [sharetrading] Average cost of shares and capital gains/loss for 2009-10 for Jaiprakash Associ
> >
> >
> >
> >
> > Hi
> >
> > You have to follow the principle of FIFO(First in first out)
> > So you have sold the 100 shares you have bought on 23.09.2008 @ 123.98 on 02.02.2009 @ 72.64 and thus had a Short term loss of Rs 5134/- (FY 2008-2009)
> > (I think you have given the wrong sell date as this transaction should have been reflected in your annual return for the FY 2008-2009)
> >
> > Anyway now you are left with 100 shares @ 66.33+100 shares @ 202.62+ 100 shares @ 0 (bonus shares are taken as 0 Value)
> >
> > There is no capital gain or loss in 2009-10 as you have not sold any share in this period
> >
> > However you have a short term capital loss of Rs 5134 in the FY 2008-2009
> >
> >
> > In case you have given any wrong dates please post again to rework and advise
> >
> > Shravan
> >
> >
> >
> >
> >
> > From: pradeepnaique
> > Sent: Tuesday, February 09, 2010 7:28 AM
> > To: sharetrading@ yahoogroups. com
> > Subject: [sharetrading] Average cost of shares and capital gains/loss for 2009-10 for Jaiprakash Associ
> >
> >
> >
> > Please can someone help me to calculate average cost of shares and capital gains/loss for 2009-10 for Jaiprakash Associates
> >
> > 23-09-2008 Bought 100 @ 123.98
> > 22-01-2009 Bought 100 @66.33
> > 02-02-2009 Sold 100@ 72.64
> > 04-11-2009 Bought 100@ 202.62
> >
> > on 18-12-2009 Bonus was declared as 1:2
> >
> > Now I have 300 shares
> >
> > 1. What is average cost of shares (I want to include it in portfolio)
> > 2. What is capital gains for 2009-10
> >
> >
> > Regards
> >
> > Suchitra
> >
>
>
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>
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>
Happy Trading,
United we grow!!!
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