Woman sells Rs 13.5 lakh worth of shares for Rs 77.47 lakh, then receives tax notice
A woman bought 60,000 shares of a company between March 3 and March 15, 2011, paying Rs 13,52,850 at Rs 22.55 apiece. The firm then issued bonus shares on a 1:1 basis, doubling her holding to 1.2 lakh shares. She sold these shares between August 31 and December 24, 2012, collecting roughly Rs 77,47,600. She has since been issued a tax notice over the transactions.
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