Following is my question
RSU received (after adjusting for tax) on 10-Dec-2013 and 10-Mar-2013 are 20 & 20. If on 10-Dec-2013 share prices was 30USD and on 10-Mar-2013 it was 32 and if I sell at 35 today — can we use Cost of Index to arrive at todays purchase price and then calculate the short term tax
Purchase price for 10-Dec-2013 shares = 20 Shares * 30 USD * 939/852 (cost of index) = 661 USD
Purchase price for 10-Mar-2013 shares = 20 Shares * 32 USD * 939/852 (cost of index) = 705 USD
Total Sale value = 40 * 35 = 1400 USD
So net Gain/loss = 1400 – 661 -705 = 34 USD (assuming no cost for transfer)
So do I pay 30.09% of 34 USD * today’s USD to INR currency conversion
Please clarify whether the above method is correct.
Thanks and Regards
Sarang