Please cconfirm whether my understanding on LTCG tax is correct.
Say, I bought Stocks worth Rs. 100 in Jan 2015.
1. Profit to Profit- If value is Rs. 140 on Jan 31st 2018. (Profitable)
And I sell this stock in 2020 at price 190.
Profit considered for tax will be based on Rs. 140 (as on 31 Jan.). Correct?
Gains of Rs. 40 (earned till Jan 31st) will be not taxable in 2020.
2. Loss to Profit- If value is Rs. 60 on Jan 31st 2018. (Loss)
And I sell this stock in 2020 when it’s value becomes Rs.150.
Profit considered for tax will be based on Rs. 150 (as on 31 Jan.). This will be unfair but is it correct?
3. P&L Reports- Say, if I sell stock in 2020. Whether Zerodha will provide the P&L Reports based on this Jan 31st calculation?
Thanks!
