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Dear sir,

            Please solve  this querry on capital gain. Do give your reasons if any.

 

I have exchanged 625 Shares of Motilal Oswal Investment Advisors Pvt Ltd (acquired at a cost of Rs. 6,250/- on 16/April/2008) for 13,198 shares of Motilal Oswal Financial Services Ltd (alloted at a cost of Rs. 137.74 per share on Sept 29, 2009). The MOFSL shares that I have been alloted have a 1-year lock-in as per SEBI rules of preferential allotment. The allotment value of MOFSL shares is 18,17,892/-. [just to clarify there is no cash receipt].

 

Is there any capital gain attracted on this transfer.

 

Am I liable to pay advance tax? What is the tax liability, if that is the case? How much is the minimum amount payable by December 15, 2009 – the date for advance tax payment.

 

Regards

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