I have seen many tax practitioners interpreting in such a way that the FMV is calculated by multiplying the highest price per share on 31-01-2018 by the number of shares sold, even in cases of split, which as per them, is a plain interpretation of the law. Many stock brokers have also been seen issuing Capital Gains Statements in this way. This is wrong.
Read my article in FreeFincal to know more.
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