Capital Gain Tax will be determined through online system, investors won’t have to visit brokers’ office: CDS and Clearing Limited

Mon, Sep 2, 2019 4:45 PM on Latest, Others,
Capital Ga...

CDS and Clearing Limited is on the verge of launching one of the awaited system for calculation of weighted average cost of shares and thus the capital gain tax. Upon implementation of this system, the investors will be able to declare capital gain tax through online system without having to visit brokers’ office.

SEBON had issued letter on Shrawan 24th 2076 to CDS to come up with the solution. Officials at CDS said problem identification and fixing those issues in system development and data migration is causing the delay. They added that before the implementation of the online tax declaring system, a mock system will be launched for a brief period to test the software. Upon successful completion of the teat run, the system will be implemented.

Upon implementation, the system will automatically process the cost price for investors having demat account after 2072. However, if the system doesn't process the cost itself, investor need to disclose either the contract number or cost price by themselves in the system.