Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > Cost of Acquisition of Shares
Cost of Acquisition of Shares Video Lecture | Income Tax for assessment (Inter Level) - Taxation
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FAQs on Cost of Acquisition of Shares Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is the cost of acquisition of shares? |  |
Ans. The cost of acquisition of shares refers to the amount of money or other consideration paid by an individual or entity to acquire ownership of shares in a company. It includes the purchase price of the shares as well as any additional expenses incurred, such as brokerage fees or legal costs.
| 2. How is the cost of acquisition of shares calculated? | |
Ans. The cost of acquisition of shares is typically calculated by adding the purchase price of the shares to any additional expenses incurred during the acquisition process. This can include brokerage fees, stamp duty, legal fees, and any other costs directly related to the acquisition. The total amount paid is considered the cost of acquisition.
| 3. Are there any tax implications associated with the cost of acquisition of shares? | |
Ans. Yes, there are tax implications associated with the cost of acquisition of shares. In many countries, the purchase and sale of shares may be subject to capital gains tax. This means that if the shares are sold at a higher price than the cost of acquisition, the individual or entity may be required to pay tax on the capital gains.
| 4. Can the cost of acquisition of shares be used to reduce tax liability? | |
Ans. Yes, in some cases, the cost of acquisition of shares can be used to reduce tax liability. In many countries, the capital gains tax is calculated by subtracting the cost of acquisition from the sale price of the shares. This means that if the shares are sold at a profit, the cost of acquisition can be deducted from the capital gains, potentially reducing the amount of tax owed.
| 5. Are there any exemptions or deductions available for the cost of acquisition of shares? | |
Ans. In some countries, there may be exemptions or deductions available for the cost of acquisition of shares. These can vary depending on the specific tax laws of each country. It is advisable to consult with a tax professional or review the relevant tax regulations to determine if any exemptions or deductions apply to the cost of acquisition of shares.
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Nov 16, 2024 Last updated |
Video Description: Cost of Acquisition of Shares for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
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