Source- ICAI MCQ Booklet
Ans to MCQ no 39.4 is option (c).
But since STT is paid at the time of sale & purchase & 112A is applicable, then why can’t we take benefit of FMV on 31.1.2018 ie why is pt no (iv) incorrect?
Priyanka VanjaniIntermediate
LTCG 112A
Share
To take benefit of FMV as on 31-1-18, shares should have been purchased prior to 1-2-18. Since in given case shares were purchased on 1-2-20 (being 15 months prior to sale date), grandfathering benefit will not apply.
Thanks!