Question ID :
tax on sale of rights of right issue in open market
I have 1000 shares @ 1500 of XYZ ltd and Co. issues right share in the ratio of 1:1 @ 1200. I sold this rights in open market @250 per share. So I had sum of Rs.250000(i.e. 250x1000).
So my query is, under which head will it be taxed and what are the other applicable provision are there under IT Act ?
Expect your valuable reply along with related Tax Provisions.
Answer ID :
VIJAYKUMAR BHANUBHAI GEVARIYA
Aug 18, 2020
Under Capital Gains head
Short term capital gains
Hari Beldona on
Aug 24, 2021