Cost of gifted unquoted shares is equal to what the owner paid while buying

What is the cost of acquisition for unquoted shares received as gift? Will it be the purchase value of the donor or the fair market value of shares on the day the gift is made? To calculate long-term capital gains (LTCG), which year should be considered—the year when the donor acquired the shares or the year in which they were gifted? To save the tax liability arising from LTCG from the sale of unquoted shares, should the amount of gain or total consideration be invested in a residential flat or Section 54EC bonds? Please give the answer with relevant Sections of the Income-tax Act, 1961.

—Arvind Goyal

We have assumed that the unquoted shares were gifted to you by a relative as defined under the Income-tax Act, 1961. Further, we have assumed that the donor acquired the shares post 1 April 2001.

For the purpose of calculating capital

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Juul’s Riaz Valani Paid $40 Million for Johnny Carson’s Longtime Malibu Compound

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Last summer, an idiosyncratic Malibu property sold for exactly $40 million in a cash deal, a little less than half the original $81.5 million asking price. Best-known as the Johnny Carson estate, after the iconic TV personality who owned it for decades, the compound was sold by producer Sidney Kimmel, who had purchased the 4.16-acre spread in 2007 from Carson’s widow Alexis for $36.5 million. But it wasn’t publicly known until now that the discount buyer was Riaz Valani, the low-profile Silicon Valley veteran who amassed a tremendous fortune as very first investor in Juul, the e-cigarette juggernaut that made vaping mainstream and was, at its peak in 2018, valued at a whopping $38 billion.

Juul’s valuation has since collapsed to sub-$5 billion levels, but the company’s rise made its founders Adam Bowen and James Monsees individual billionaires, however briefly. They owe much

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Steve Cohen paid $2.475 billion for the Mets, but that’s nothing for MLB’s richest owner

It’s the news New York Mets fans have been waiting for: Major League Baseball owners approved the sale of the franchise to hedge fund manager Steve Cohen. Talk of any objections from New York City Mayor Bill de Blasio were put to rest when he tweeted Friday afternoon that the Mets can proceed with the sale.



Steven A. Cohen wearing glasses and smiling at the camera


© Provided by For The Win


The hope is that his deep pockets — and, as we’ll get to, they are VERY deep — will make the Mets spend money like the big-market franchise they are, something the team hasn’t been in recent years.

So how much did Cohen pay for the team? Per USA TODAY Sports’ Bob Nightengale, it’s $2.475 billion:

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Steve Cohen paid $2.475 billion, nothing for MLB’s richest owner

It’s the news New York Mets fans have been waiting for: Major League Baseball owners approved the sale of the franchise to hedge fund manager Steve Cohen. Talk of any objections from New York City Mayor Bill de Blasio were put to rest when he tweeted Friday afternoon that the Mets can proceed with the sale.

The hope is that his deep pockets — and, as we’ll get to, they are VERY deep — will make the Mets spend money like the big-market franchise they are, something the team hasn’t been in recent years.

So how much did Cohen pay for the team? Per USA TODAY Sports’ Bob Nightengale, it’s $2.475 billion:

That’s nothing given how much he’s

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NSW paid almost as much as commonwealth for land near Western Sydney airport

The New South Wales government paid almost $5m to acquire a two-hectare block of land near the Western Sydney airport, roughly the same rate paid in the federal government’s much-criticised acquisition of the Leppington Triangle.



a sign on a dry grass field: Photograph: Mick Tsikas/AAP


© Provided by The Guardian
Photograph: Mick Tsikas/AAP

The dealings of both the state and federal governments in the area surrounding the proposed airport have attracted significant controversy in recent weeks, following damning revelations aired in both a federal audit and a state anti-corruption hearing.

The audit found the federal infrastructure department’s payment of $30m for a 12.26-hectare block near the airport, known as the Leppington Triangle, was scandalously high, four times higher than the next valuation and 22 times higher than the rate the NSW government paid for its portion of the land.



a sign on a dry grass field: File photo of land near Western Sydney airport. NSW paid $4.7m for a two-hectare block, which is $2.35m per hectare, roughly the same rate paid for the Leppington Triangle.


© Photograph: Mick Tsikas/AAP
File photo of land near Western Sydney airport. NSW paid $4.7m for a two-hectare block, which is

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Portsmouth nurses say contractor hasn’t paid them for hours worked at Naval Medical Center Portsmouth

PORTSMOUTH, Va. (WAVY) — A group of nurses working in Portsmouth said payday has come and gone but they’re still waiting to get paid.

The nurses are contract employees at Naval Medical Center Portsmouth.

10 On Your Side spoke with the workers who said the contractor has left them in the dark.

Along with the missed payday, the nurses said they were shorted money on their last paycheck.

The contractor is Magnum Opus Technologies, a company based out of Texas.

Registered Nurse Cristina Garcia said she hasn’t had luck getting in contact with the company.

“Phone numbers have been disconnected. Emails are getting bounced back,” said Garcia. “We just want to be paid for hours we worked.”

The nurses have worked under the contractor since 2018. They said they got an email earlier this year informing them the contract with Naval Medical Center Portsmouth was ending.

“That’s all they did

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