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Question ID : 40789

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.

posted by VIJAYKUMAR BHANUBHAI GEVARIYA on Aug 18 2020 12:00AM

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