I am new to the forum so I send my good wishes to all before starting.I am NRI and I do share trading through AXIS BANK,s PIS account.I recently bought 700 shares of torrent Pharma for around Rs 700 each..I was allotted another 700 shares through 1:1 bonus issue.I sold both at ex bonus price of around Rs 424 within 3 months of purchase of original shares.that means I did not complete one year of holding for original as well as bonus shares.Axis bank has applied 15.25% capital gains tax on bonus shares siting these as short term gains.At the same time they have not given any benefit of short term losses which I suffered on sales of 700 original shares at ex bonus price.This is a short term loss.I have taken up the matter with AXIs bank but they say the adjustment is not possible .As far as I know short term gains can be offset against short termloss.Can any body help me out on this.Also How can I get the benefit of losses suffered by sale of original shares.Thanks/Regds
