{"id":18220,"date":"2021-05-15T15:32:22","date_gmt":"2021-05-15T10:02:22","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=18220"},"modified":"2021-05-21T10:13:57","modified_gmt":"2021-05-21T04:43:57","slug":"capital-gains-on-bankruptcy-of-a-company","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/capital-gains-on-bankruptcy-of-a-company\/","title":{"rendered":"How to compute Capital gains on bankruptcy of a company  ?"},"content":{"rendered":"<p>&#8220;Transfer\u201d, in relation to a capital asset, includes:<\/p>\n<p>(i) Sale, exchange or relinquishment of the asset;<\/p>\n<p>(ii) Extinguishment of any rights in relation to a capital asset;<\/p>\n<p>(iii) Compulsory acquisition of an asset;<\/p>\n<p>(iv) Conversion of capital asset into stock-in-trade;<\/p>\n<p>(v) Maturity or redemption of a zero coupon bond;<\/p>\n<p>(vi) Allowing possession of immovable properties to the buyer in part performance of the contract;<\/p>\n<p>(vii) Any transaction which has the effect of transferring an (or enabling the enjoyment of) immovable property; or<br \/>\n(viii) Disposing of or parting with an asset or any interest therein or creating any interest in any asset in any manner whatsoever.<\nQuery:\u00a0 Many companies are referred to the IBC\/declared bankrupt.\u00a0 Can the cost of shares be treated as a capital loss? If yes, in which assessment year and whether indexation benefit can be taken?\n<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[37],"qa_category":[23],"qa_tag":[166,24],"class_list":["post-18220","qa","type-qa","status-publish","hentry","qa_expert-advocate-aditya-ajgonkar","qa_category-income-tax","qa_tag-bankruptcy-of-a-company","qa_tag-capital-gains"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/18220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=18220"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=18220"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=18220"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=18220"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=18220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}