Say I purchased an equity share or mutual fund in April 2015 at ₹100 and grandfathered value on 31 January 2018 (FMV) is ₹150. Say, I sell or switch this share/mutual fund in June 2018 for ₹140. As per the new LTCG policy, my new cost price will now be ₹140. Hence there is no capital gain or loss. So, do I still have to report this transaction? If the answer is no; as there is a gain of ₹40 on my original investment, do I need to declare this gain under the exempted income section?
—C Fernandes